Soy Wave Analysis – 07 Janaury, 2019
January 07, 2019 @ 18:50 UTC
- Soy broke resistance area
- Further gains are likely
Soy continues to rise after the earlier breakout of the resistance area lying between the key resistance level 923.0 (which also stopped the previous waves 3 and 5, as can be seen below) and the 50% Fibonacci correction of the previous sharp onward impulse from last May.
The breakout of this resistance area strengthened the bullish pressure on this instrument.