Soybean Forecast - Thursday, Nov. 19

Thursday Forecast

Uptrend scenario

The uptrend may be expected to continue in case the soybean market rises above resistance level 1180, which will be followed by reaching resistance level 1207.

Downtrend scenario

A downtrend will start as soon, as the soybean market drops below support level 1161.50, which will be followed by moving down to support level 1136.75 and if it keeps on moving down below that level, we may expect the soybean market to reach support level 1100.

Chart Soybean This/Next Week Forecast, Technical Analysis

This/Next Week Forecast (November 9 - 13, 2020)

Uptrend scenario

The uptrend may be expected to continue, while the soybean market is trading above support level 1136, which will be followed by reaching resistance level 1180.

Downtrend scenario

A downtrend will start as soon, as the soybean market drops below support level 1136, which will be followed by moving down to support level 1100.

Chart Soybean This/Next Week Forecast, Technical Analysis

Previous week soybean price forecast

Chart Soybean This/Next Week Forecast, Technical Analysis

Fundamental Analysis

The difference between supply and demand shows a fair price on the level 1180.

Chart Soybean Ending Stocks, Inventory

Monthly Forecast

Uptrend scenario

The uptrend may be expected to continue, while the soybean market is trading above support level 1063, which will be followed by reaching resistance level 1180.

Downtrend scenario

A downtrend will start as soon, as the soybean market drops below support level 1046, which will be followed by moving down to support level 1000 and 940.

Chart Soybean Forecast 2020, Long-term Outlook, Technical Analysisok

Disclaimer: All information provided by Anton Kolhanov is for informational purposes only. Information provided is not meant as investment advice nor is it a recommendation to Buy or Sell ...

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