Soy Wave Analysis – 11 May, 2020

• Soy broke resistance area

• Likely to rise to 870.00

Soy today broke the resistance area lying between the resistance level 855.00 (top of the previous impulse wave 1) and the 50% Fibonacci correction of the previous downward impulse (C) from march.

The breakout of this resistance area should accelerate the active impulse waves (3) and 3.

Soy is expected to rise further toward the next resistance level 870.00 (top of the previous minor correction 4 from the start of April).