Market Snapshots

Soy Wave Analysis – 20 March, 2020

Soy Wave Analysis – 20 March, 2020
  • Soy revered from support area
  • Likely to rise to 866.00

Soy recently revered up sharply from the support area lying between the pivotal support level 820.00 (which reversed the price in May of 2019), lower daily Bollinger Band and the support trendline of the daily down channel from January.

The upward reversal from the support level area started the active medium-term upward impulse sequence (1) from the middle of March.

Soy is likely to rise further toward the next round resistance level 866.00 (former powerful support level from December and February).

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