Soy Wave Analysis – 15 April, 2020

• Soy broke support area
• Likely to fall to 830.00

Soy recently broke the support area lying between the support level 850.00 (low of the earlier wave A) and the 61.8% Fibonacci correction of the previous upward impulse (1) from March.

The breakout of this support area accelerated the C-wave of the active ABC correction (2) form last month.

Soy is likely to fall further toward the next support level 830.00 (target price for the completion of the active impulse wave C).