Soybean Futures price forecast: Sellers dominate with weak momentum, consolidation likely ahead

Traders Union
All News
Commodities
Soybean Futures down 0.59% to USX1,188

Highlights

ZS/USX trades below key short-, medium-, and long-term moving averages, confirming persistent selling across timeframes.
Technical momentum remains negative with strong sell readings and oversold intraday indicators suggesting limited potential for a short-term rebound.
Price is expected to consolidate in a USX1,182 to USX1,196 range over the next 2 to 3 days, with a bearish bias unless resistance at USX1,193 is broken.

Bearish momentum persists as oscillators signal oversold risk

ZS/USX is currently situated below the MA-20 and MA-50 on the hourly chart and remains well beneath the MA-200 on the daily timeframe. Immediate resistance is established at the Ichimoku Kijun level of USX1,193, while support is at USX1,182. Momentum signals remain weak, with MACD on sell and ADX neutral. The RSI is in a neutral position, but both Stochastic RSI and CCI are in oversold territory, indicating a possible setup for a short-term rebound, though no clear reversal signal is present. Bull/Bear Power is negative, showing seller dominance in intraday action, and the Awesome Oscillator also confirms strong bearish momentum. Price action was weak today, closing near session lows with little volatility, and the divergence between oversold oscillators and persistent downside momentum highlights fragile conditions for any immediate rebound.

Downside bias persists as trading range and resistance set limits

Over the next 2 to 3 trading days, ZS is expected to range between USX1,182 and USX1,196, representing the typical volatility band relative to current levels. The likelihood of an upward move remains low, while the probability of a further decline is elevated, and the base case scenario is price consolidation within these bounds. An upward break would require ZS to close decisively above the USX1,193 resistance, while a drop below USX1,182 would confirm a renewed bearish scenario.

Viktoras Karapetjanc, expert at Traders Union, notes that Soybean Futures remain under pressure, with technicals confirming a soft and fragile setup. He sees little momentum for an upside move in the near term, as key indicators stay negative and no reversal signals are present. The analyst remains attentive to oversold signals, but expects sideways action to dominate unless resistance at USX1,193 is challenged. "While current conditions remain weak, I am on alert for any positive shift in sentiment that could spark a rebound from oversold levels."

Earlier, analysts noted that Soybean Futures remained under technical pressure as improving global supply expectations weighed on upside momentum. The latest market action reinforces this cautious outlook, with traders advised to monitor the USX1,182 support level as a decisive break below would increase downside risk in the near term.

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.