• Soy reversed from support level 1500.00
• Likely to rise to resistance level 1560.00
Soy previously reversed up from the round support level 1500.00 (which stopped the previous correction 4 at the end of February) – intersecting with the lower daily Bollinger Band
The upward reversal from the support level 1500.00 started the active minor correction B.
Given the strong daily uptrend – Soy can then be expected to rise further toward the next resistance level 1560.00.
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Even though the Bank of Japan left the key rate and parameters of the QE…
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