Soy beans on wooden spoon
• Soy reversed from resistance area
• Likely to reach support level 1350.00
Soy recently reversed down from the resistance area lying between the resistance level 1436.00 (which has stopped the previous impulse wave (1) at the start of January) and the upper daily Bollinger band.
The downward reversal from this resistance area stopped the previous impulse waves (iii) and 3.
Soy is likely to fall further toward the next support level 1350.00 (which has been reversing the price from the end of January).
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