This/Next Week Forecast (October 19 - 23, 2020)

Uptrend scenario

An uptrend will start as soon, as the soybean market rises above resistance level 1063, which will be followed by moving up to resistance level 1081 and if it keeps on moving up above that level, we may expect the soybean market to reach resistance level 1175.

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.

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Previous week soybean price forecast

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Fundamental Analysis

Difference between supply and demand showing fair price on the level 1060.

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Long-Term Forecast (Quarter III: July - September, 2020)

Uptrend scenario

The uptrend may be expected to continue, while the soybean 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 soybean market to reach resistance level 997.

Downtrend scenario

A downtrend will start as soon, as the soybean market drops below support level 854, which will be followed by moving down to support level 816.

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