Soybeans holds steady amid oversold conditions limiting further declines

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Soybeans steady today at $1,106

Highlights

ZS/USD remains under sustained bearish pressure, trading below key moving averages with sellers dominating recent sessions.
Technical indicators mostly signal further downside, with oversold conditions potentially limiting immediate losses but not reversing trend.
Price is expected to fluctuate between $1,094 and $1,118 over the next 2–3 days, with a 78% probability of downside continuation.

Mixed technical signals as sellers dominate below resistance levels

On the technical front, ZS/USD remains below the 20-period moving average at $1,110 and the 50-period moving average at $1,116 on the H1 timeframe, with the 200-period moving average well above at $1,130. The Ichimoku Kijun acts as immediate resistance at $1,126. The Moving Average Convergence Divergence (MACD) signals Sell, while the Average Directional Index (ADX) registers Strong Buy. The Relative Strength Index (RSI) is at 43.61 (Sell), the Commodity Channel Index (CCI) also signals Sell, and Stochastic RSI reflects an oversold condition. Bull/Bear Power is also oversold for the intraday session, suggesting sellers remain dominant. The Awesome Oscillator is neutral and does not confirm the current downward pressure, adding to an overall mixed indicator picture.

Downside favored as rangebound trade limits rebound chances

For the next 2—3 trading days, ZS/USD is expected to fluctuate in a range between $1,094 and $1,118, consistent with typical volatility for this asset. There is a 22% probability of an upward move, while the likelihood of a move lower stands at 78%. If price action advances beyond the $1,126 resistance marked by the Ichimoku Kijun, a short-term rebound could unfold. Conversely, a clear drop below $1,094 would suggest further downside momentum.

Viktoras Karapetjanc, analyst at Traders Union, sees soybeans trading in a subdued technical range. He notes that despite mixed signals across momentum indicators, sellers keep control for now. Price remains below key moving averages, suggesting the asset lacks bullish conviction. The probability of a downside move is much higher, but a break above $1,126 could quickly shift short-term sentiment. "Patience is essential — if ZS/USD breaks above $1,126, I expect a rebound, but for now, risks are tilted to the downside."

Earlier, analysts noted that soybeans were facing continued pressure amid mixed technical momentum and external headwinds, with traders on alert for emerging catalysts. The current outlook reinforces this cautious stance, highlighting the dominance of sellers and emphasizing the need to monitor for any decisive move beyond the $1,126 resistance or a drop below $1,094 as potential triggers for the next directional trend.

Source of Data: ZS Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.