Soy Wave Analysis 22 October, 2020

• Soy broke key resistance level 1075.00

• Likely to rise to 1100.00

Soy today broke above the key resistance level 1075.00 (which stopped the previous short-term impulse wave (i) at the start of October).

The breakout of this resistance level 1075.00 should accelerate the active short-term impulse waves (iii) and 5 – which are a part of the extended upward impulse sequence C from August.

Soy is likely to rise further toward the next resistance level 1100.00 (forecast price for the completion of the active sub-impulse wave (iii)).