Technical analysis

Soy Wave Analysis – 3 October, 2019

Soy Wave Analysis – 3 October, 2019
  • Soy reversed from resistance area
  • Likely to fall to 900.00

Soy recently reversed down from the resistance area lying between the key resistance level 915.00 (which was set as the likely upward target in our earlier report for Soy) and the upper daily Bollinger Band.

The downward reversal from this resistance area stopped the previous extended ABC correction (ii) from the end of August.

Given the overbought daily Stochastic – Soy recently is expected to fall further and retest the next round support level 900.00 (which reversed the price in September).

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