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Soybean Market Quick-Take: Trader's Essential Insights

SOYBEAN COMMODITY

February 07, 2025 at 06:33 PM

Soybean Market Quick-Take: Trader's Essential Insights

Soybean shows strong bullish momentum with 1.95% daily gain. Technical analysis points to potential 9-10% rally targeting $365-370 range over next 30 days, though traders should note daily volatility of $5. ✏️

Immediate support established at $330-335 offering potential buying zone. Watch for breakout above crucial resistance at $315.80 which could trigger upside momentum. Lower trading volume suggests cautious positioning needed. ✏️

Trading Strategy: Near-term Pullback Expected Before Further Gains

Model predicts short-term price pullback before continuation of uptrend. Traders advised to watch for entries near support at $330-335 with resistance at $340-345 as first target. ✏️

Recent Soybean Price Analysis Shows Bullish Momentum with Key Technical Signals

Daily closing prices with 15 and 30-day SMAs and trading volume over the last 30 days showing price momentum and trend.
Daily closing prices with 15 and 30-day SMAs and trading volume over the last 30 days showing price momentum and trend.

Key Support and Resistance Levels Indicate Strong Trading Range

Candlestick chart showing recent price action with key support at $289.50 and resistance at $315.80.
Candlestick chart showing recent price action with key support at $289.50 and resistance at $315.80.

Market Momentum Analysis Shows Strong Bullish Signals

Price momentum analysis showing the relationship between price, 14-day SMA, and statistical significance (z-score).
Price momentum analysis showing the relationship between price, 14-day SMA, and statistical significance (z-score).

Initial Price Prediction Model Shows Strong Short-term Forecasting Capability

Line chart showing actual soybean prices versus predicted next-day prices with confidence intervals, demonstrating the model's forecasting accuracy and uncertainty ranges.
Line chart showing actual soybean prices versus predicted next-day prices with confidence intervals, demonstrating the model's forecasting accuracy and uncertainty ranges.

Short-term Price Predictions Show Mixed Signals with Moderate Volatility

Comparison of actual soybean prices versus model predictions with 95% confidence intervals, showing prediction accuracy and expected price volatility.
Comparison of actual soybean prices versus model predictions with 95% confidence intervals, showing prediction accuracy and expected price volatility.

Long-term Price Analysis Reveals Bullish Trend with Key Risk Factors

Monthly soybean price predictions showing actual prices, 30-day forecasts, confidence intervals, and overall price trend.
Monthly soybean price predictions showing actual prices, 30-day forecasts, confidence intervals, and overall price trend.