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Soy Wave Analysis – 03 September , 2018

• Soy reversed up from the support area
• Further gains are likely

Soy recently reversed up from the support area lying between the key support level 820.00 (which stopped the previous sharp impulse wave C in August, as can be seen below) and the lower daily Bollinger Band.

The upward reversal form this support area lying stopped the B-wave of the active medium-term ABC correction (B) from July.

With the oversold daily Stochastic – Soy is expected to rise further and retest the next resistance level 860.00. Strong support remains at 820.00.

SOYUSD - 5 - Sep-03 1850 PM (1 day)

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