Soybean Price Forecast For This/Next Week
(August 31 – September 4, 2020)
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 941, which will be followed by reaching resistance level 997.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 941, which will be followed by moving down to support level 908.
chart: soybean market outlook, technical analysis
previous week soybean price forecast
Soybean Price Prediction
According to Fundamental Analysis difference between supply and demand do not show imbalance on the market and defines the current fair price in the range $940 and now further price fluctuation will be determining by technical analysis.
chart: soybean futures market ending stocks, inventory world with US
Soybean condition is became worse during last 2 weeks that pushing price up.
Soybean Price Forecast 2020, Long-Term
(Quarter III: July – September, 2020)
Uptrend scenario
The uptrend may be expected to continue, while 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
An downtrend will start as soon, as the market drops below support level 854, which will be followed by moving down to support level 816.
chart: soybean technical analysis, market outlook
