Soy Wave Analysis 18 December, 2020

• Soy broke powerful resistance level 1200.00

• Likely to rise to 1225.00

Soy recently broke above the powerful resistance level 1200.00 (which stopped the sharp uptrend at the end of November, as can be seen below).

The breakout of the resistance level 1200.00 accelerated the active impulse waves 3 and (5).

Soy is expected to rise further toward the next resistance level 1225.00 (target price for the completion of the active impulse wave (iii)).