• Soy under the bullish pressure
• Likely to rise to resistance levels 1366.20 and 1381.00

Soy under the bullish pressure after the earlier breakout of the round resistance level 1300.00 (which has been reversing the price from September as can be seen from the daily Soy chart below) – intersecting with the 61.8% Fibonacci correction of the downward price impulse C from the middle of August. The breakout of the resistance level 1300.00 accelerated the active minor impulse wave (iii) of the impulse wave C from November.

Soy can be expected to rise further in the active impulse wave (iii) toward the next resistance levels 1366.20 and 1381.00 (monthly high from August and the target for the completion of the active minor impulse wave (iii)).