Soy Wave Analysis – 02 January, 2020

• Soy broke resistance level 945.00
• Likely to rise to 970.00

Soy recently broke with the upward gap above the resistance level 945.00 (which stopped the previous waves (A) and B in October and November respectively).

The breakout of the resistance level 945.00 accelerated the active short-term impulse wave 3 of the strong upward impulse sequence (C) from the middle of May.

Soy is likely to rise further toward the next resistance level 970.00 (target price for the completion of the active impulse wave 3).