Technical analysis

Soy Wave Analysis – 27 August, 2020

Soy Wave Analysis – 27 August, 2020

• Soy broke key resistance level 930.00

• Likely to rise to 950.00

Soy recently broke above the key resistance level 930.00 (previous upward target), intersecting with the resistance trendline of the daily up channel from April.

The breakout of the resistance level 930.00 should accelerate the active impulse waves 3 and (C).

Soy is expected to rise further toward the next powerful resistance level 950.00, which is also the target price for the completion of the active impulse sequence (C)).

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