For the week of October 12 - 16 in the Uptrend scenario the uptrend may be expected to continue in case the market rises above resistance level 1081, which will be followed by reaching resistance level 1175.
In the Downtrend scenario a downtrend will start as soon as the market drops below support level 1046, which will be followed by moving down to support level 1000 and if it keeps on moving down below that level, we may expect the market to reach support level 940.
Previous week soybean price forecast
Fundamental Analysis
The difference between supply and demand showing a fair price on the level 1060.
Long-Term Forecast (Quarter III: July - September)
In the 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. If it keeps on moving up above that level, we may expect the market to reach resistance level 997.
In the 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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