Soy neutral

Is soya preparing to correction?

10 February 2022 223
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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.

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