Technical analysis

Soy Wave Analysis 20 April, 2021

• Soy broke resistance level 1460.00

• Likely to rise to resistance level 1500.00

Soy under the bullish pressure after the earlier breakout of the key resistance level 1460.00 (former monthly high from March).

The breakout of the resistance level 1460.00 accelerated the active intermediate impulse wave (C) from the start of April.

Give the predominant uptrend – Soy is likely to rise further toward the next resistance level 1500.00. Strong support now stands at the support level 1460.00.

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