Technical analysis

Soy Wave Analysis – 11 October, 2019

Soy Wave Analysis – 11 October, 2019
  • Soy broke multi-month resistance level 920.00
  • Likely to rise to 950.00

Soy recently broke the multi-month resistance level 920.00 – which has been steadily reversing the price from December of 2018.

The breakout of this resistance level accelerated the active short-term impulse wave (iii) – which belongs to the impulse sequence C from August.

Soy is expected to rise further and retest the next resistance level 950.00 (forecast price calculated for the completion of the active impulse wave (iii)).

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