Soy beans on wooden spoon
• Soy reversed from resistance zone
• Likely to fall to support level 1360.00
Soy recently reversed down sharply from the resistance zone set between the key resistance level 1450.00 (which has been reversing the price from January) and the upper daily Bollinger Band.
The downward reversal from this resistance zone stopped the previous sharp upward impulse wave (3) from the end of March.
Soy is likely to fall further toward the next support level 1360.00 (low of the previous correction (2) from last month).
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