Technical analysis

Soy Wave Analysis 21 December, 2020

Soy Wave Analysis 21 December, 2020

• Soy rising inside impulse waves (iii) and 5

• Likely to rise to 1250,00

Soy continues to rise inside the sharp upward impulse waves (iii) and 5 which were accelerated previously – when the price broke above the key resistance level 1200,00.

The acceleration of the active impulse waves (iii) and 5 is indicated by the sharply rising daily Momentum indicator as can be seen below.

Soy is expected to rise further toward the next resistance level 1250,00 (target price for the completion of the active impulse wave (iii)).

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