- Soy reversed from support zone
- Further gains are likely
Soy recently reversed up with the daily Morning Star from the support zone lying at the intersection of the round support level 900.00, 50-day moving average and the 50% Fibonacci correction of the previous upward wave (2) from December.
The upward reversal from this support area started the active short-term ABC correction 2.
Soy is expected to rise further and re-test the next strong resistance level 930.00 (which has been reversing the price from December).