Soy neutral

Is soya preparing to correction?

10 february 2022 168
Volkov_Anton
Volkov_Anton

Listed among the best MarketCheese authors
1st in the segment "Agricultural commodities"
2nd in the segments "Currencies" and "Oil and gas"
3rd in the segments "Indices" and "US stocks"
Load the latest quotes
Full screen

The definite uptrend has been already prevailing for three months in soya’s quotes. The last significant correction was in November and since that period the price has raised by more than 30%.

 

The nearest targets of “bulls” are the June maximum of 1622.5 and the historical maximum of May 2021 at 1666.5. Meanwhile, the RSI is in the overbought zone since the beginning of February and a possibility for the pullback remains high.

 

Correction to the gap’s level at 1560 can be followed by the achievement of growth’s targets.

Volkov_Anton
Volkov_Anton

Listed among the best MarketCheese authors
1st in the segment "Agricultural commodities"
2nd in the segments "Currencies" and "Oil and gas"
3rd in the segments "Indices" and "US stocks"
Comments
New Popular
Send
Commenting rules

Subscribe to our newsletter and stay up to date with all the news!