Weekly Forecast (August 31 - September 4, 2020)
Uptrend scenario
The uptrend may be expected to continue, while the market is trading above support level 941, which will be followed by reaching resistance level 997.
Downtrend scenario
A downtrend will start as soon, as the market drops below support level 941, which will be followed by moving down to support level 908.
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Previous week soybean price forecast
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Soybean Price Prediction
According to the Fundamental Analysis difference between supply and demand do not show imbalance on the market and defines the current fair price in the range of $940 and now further price fluctuation will be determined by technical analysis.
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Soybean condition became worse during the last 2 weeks that pushing price up.
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Quarterly Forecast (Quarter III: July - September 2020)
Uptrend scenario
The uptrend may be expected to continue, while the market is trading above support level 854, which will be followed by reaching resistance level 904 - 941 and if it keeps on moving up above that level, we may expect the market to reach resistance level 997.
Downtrend scenario
A downtrend will start as soon, as the market drops below support level 854, which will be followed by moving down to support level 816.
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