Soybean Weekly Forecast

Weekly Forecast (July 24 – 28, 2023)

Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 1448,2, which will be followed by reaching resistance level 1527.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 1391,6, which will be followed by moving down to support level 1315 and 1256,6.

Monthly Forecast, July 2023

Uptrend scenario
The uptrend is not expected to continue.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 1427 which will be followed by reaching support level 1217.

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