Market Snapshots

Soy Wave Analysis 17 November, 2020

Soy Wave Analysis 17 November, 2020

• Soy broke resistance level 1161.50

• Likely to rise to 1200.00

Soy continues to rise after recently breaking through the minor resistance level 1161.50 (which stopped the previous short-term impulse wave (iii) at the start of November).

The breakout of the resistance level 1161.50 accelerated the active impulse waves (v), 5 and (C).

Soy is likely to rise further toward the next resistance level 1200.00 (target price for the completion of the active impulse wave (iii)).

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