Soy Wave Analysis – 17 June, 2019

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FxPro Daily Economic Events
FxPro Daily Economic Events
  • Soy broke resistance area
  • Further gains are likely

Soy recently broke sharply through the resistance area lying between the key resistance level 894.00 (top of the previous wave A) and the resistance trendline from May of 2018.

The breakout of this resistance area accelerated the active impulse wave C of the medium-term ABC correction (4) from May.

Soy is expected to rise further and retest the next resistance level 925.00 (target price for the completion of the active impulse wave C).

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