September 22, 2020 at 03:11PM
• Soy reversed from support zone
• Likely to rise to 1045.00
Soy recently reversed up from the support zone lying between the support level 1010.00 (top of the daily Shooting) and the 38.2% Fibonacci correction of the upward impulse from the start of this month.
The downward reversal from this support zone continues active intermediate impulse wave (3) – enclosed by the sharp daily up channel from August.
Soy is expected to rise further and re-test the next resistance 1045.00 (top of the previous short-term impulse wave (i)).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/soy-wave-analysis-22-september-2020-20200922/
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