Market Snapshots

Soy Wave Analysis 18 September, 2020

Soy Wave Analysis 18 September, 2020

• Soy broke round resistance level 1000.00

• Likely to rise to 1065.00

Soy recently broke through the round resistance level 1000.00 – which accelerated the active impulse waves (iii), (v) and C.

The breakout of the resistance level 1000.00 greatly accelerated the active C-wave from August – which then broke the sharp daily up channel from last month – signalling further gains are likely.

Soy is likely to rise further toward the next resistance level 1065.00 (target price for the completion of the active impulse wave C).

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