Technical analysis

Soy Wave Analysis 31 December, 2020

Soy Wave Analysis 31 December, 2020

• Soy broke resistance level 1300.00

• Likely to rise to 1350.00

Soy recently broke above the resistance level 1300.00 – coinciding with the resistance trendline of the daily up channel August.

The breakout of these resistance levels signalled the acceleration of the already quite sharp uptrend inside which soy has been moving from May.

Soy is expected to rise further to the next round resistance level 1350.00 (forecast price for the termination of the active impulse wave (3)).

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