Technical analysis

Soy Wave Analysis – 4 September, 2020

Soy Wave Analysis – 4 September, 2020

• Soy broke resistance level 960,00

• Likely to rise to 990,00

Soy recently broke above the powerful resistance level 960,00 – which started the sharp downtrend at the beginning of 2020, as can be seen below.

The breakout of the resistance level 960,00 accelerated the active impulse wave (c) – which is part of the extended upward impulse sequence C from the start of August.

Soy is likely to rise further toward the next resistance level 990,00 (target price for the completion of the active impulse wave C).

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