Technical analysis

Soy Wave Analysis – 26 May, 2021

• Soy reversed from support level 1500.00

• Likely to rise to resistance level 1560.00

Soy previously reversed up from the round support level 1500.00 (which stopped the previous correction 4 at the end of February) – intersecting with the lower daily Bollinger Band

The upward reversal from the support level 1500.00 started the active minor correction B.

Given the strong daily uptrend – Soy can then be expected to rise further toward the next resistance level 1560.00.

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