Soy Wave Analysis 15 April, 2021

• Soy reversed from support zone

• Likely to rise to resistance level 1450.00

Soy recently reversed up from the support zone set between the key support level 1380.00 (which has been reversing the price from February), lower daily Bollinger Band and the 50% Fibonacci retracement of the previous upward impulse from January.

The upward reversal from this support zone started the active medium-term upward impulse wave (C).

Soy is likely to rise in the active impulse wave (C) toward the next resistance level 1450.00 (top of the previous correction (A) from the start of April).