Soy Wave Analysis – 05 August, 2021
August 05, 2021 @ 18:13 +03:00
• Soy reversed from support level 1325.40
• Likely to rise to resistance level 1450,00
Soy recently reversed up from pivotal support level 1325.40 (which has been reversing the price from the start of this year) – strengthened by the lower daily Bollinger Band.
The upward reversal from this support zone stopped the previous short-term impulse wave 3.
Given the clear daily uptrend – Soy can be expected to rise further toward the next resistance level 1450,00 (top of the previous minor correction 2 from the end of July.