Market Snapshots

Soy Wave Analysis – 13 March, 2020

Soy Wave Analysis – 13 March, 2020
  • 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).

Article Rating