As from the current chart configuration, soybeans show us 2 possible outcomes.
SOYBNUSD
is downtrending since mid july and might continue. The 8.47 level have been acting as support and resistance way back july 2018. The level have shown interest again twice this year.
Knowing this, price should either break the level or bounced. in the scenario price break the support level, we expect it to hit the 8.079 level. Else, a bounce back to 8.748 level is the nearest possible long target.
So what do you think?
Subscribe to my youtube channel for recent updates
www.youtube.com/chan...37r-_USoV4tj4r7J1fQw
SOYBNUSD
is downtrending since mid july and might continue. The 8.47 level have been acting as support and resistance way back july 2018. The level have shown interest again twice this year. Knowing this, price should either break the level or bounced. in the scenario price break the support level, we expect it to hit the 8.079 level. Else, a bounce back to 8.748 level is the nearest possible long target.
So what do you think?
Subscribe to my youtube channel for recent updates
www.youtube.com/chan...37r-_USoV4tj4r7J1fQw