Soy Wave Analysis – 13 March, 2020
March 13, 2020 @ 15:27 +03:00
- Soy reversed from support area
- Likely to rise to 880.00
Soy recently reversed up from the support area lying between the key multi-month support level 845.00 (which has been reversing the price from June of 2019), lower daily Bollinger Band and the 61.8% Fibonacci correction of the previous upward impulse sequence from last year.
The upward reversal from this support area stopped the previous impulse waves 1 and (C).
Soy is likely to rise further toward the next round resistance level 880.00 (which formed two earlier daily Shooting Stars).