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Soy Wave Analysis – 15 March, 2019

  • Soy reversed from support area
  • Further gains are likely

Soy recently reversed up from the support area lying between the pivotal support level 890.00 (which has been reversing the price from the middle of January) and the 38.2% Fibonacci correction of the previous upward impulse from February.

The upward reversal from this support area started the active short-term correction 2.

Soy is expected to rise further and re-test the next resistance level 925.00 (which has been steadily reversing the price from the end of November).

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Source: FxPro


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