Will Soybean Futures price extend gains as sellers dominate the short-term trend?

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Soybean Futures trades flat at USX1,192

Highlights

ZS/USX faces strong bearish pressure, trading below key short- and medium-term moving averages, but holds above long-term support at 1,145.
Momentum indicators are largely negative with weak RSI and strong sell signals, though intraday buyers maintain some strength amid mixed short-term signals.
Downside risk is elevated for the next 2–3 trading days, with prices likely ranging between 1,177 and 1,207 unless a strong move breaches 1,196 resistance.

Long-term support holds amid conflicting momentum signals

ZS is trading below the MA-20 and MA-50 at USX1,192, while holding above the MA-200 at USX1,145, indicating that long-term support remains intact. Immediate resistance is set at the Ichimoku Kijun level of USX1,196. Momentum indicators signal predominantly negative pressure, with MACD at Strong Sell and ADX at Sell; RSI remains weak at 36.4 (Sell), while Stochastic RSI signals an overbought condition, pointing to conflicting momentum signals. CCI registers as Neutral and both Bull/Bear Power and Stochastic RSI suggest some intraday buyer strength, though the Awesome Oscillator is neutral and does not confirm a clear trend.

Downside break highly probable under prevailing volatility

Over the next 2–3 trading days, ZS is expected to trade within a band of USX1,177 to USX1,207 under typical volatility for current conditions. The probability of an upside break is very low, while a downside scenario is highly probable. A sideways scenario would see soybeans consolidating within this corridor. A sustained move above USX1,196 is required for a bullish reversal, while a bearish scenario would develop if prices fall through nearby support and test the lower end of the projected range.

Anton Kharitonov, analyst at Traders Union, notes that Soybean Futures are trading in a neutral pattern and showing persistent downside momentum on several indicators. He sees the technical setup as weak unless the price moves decisively above USX1,196. Momentum remains scattered, with no supportive news or clear trend signal emerging. "Until ZS reclaims USX1,196 with conviction, I remain defensive and see a higher risk of further downside."

Earlier, analysts noted that U.S. soybean producers faced mounting pressures from weak commodity prices, rising input costs, and persistent trade uncertainties, resulting in a generally cautious outlook for the sector. The current technical picture aligns with this cautious sentiment, with prevailing downside risks suggesting that traders should closely monitor the USX1,177 support level for signs of further weakness in the days ahead.

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.