Soybean Meal May 2024 has broken through a line of 335.7000 and suggests a possible movement to 330.7700 within the next 20 hours. It has tested this line numerous times in the past, so one should wait for a confirmation of this breakout before taking any action. If the breakout doesn’t confirm, we could see a retracement back to lines seen in the last 9 days.
Soybean Meal May 2024 may be on a start of a new bearish trend after its breakout through this important support level
