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Elliott Wave Analysis: Soybean In Bullish Run

ByGregor Horvat
Published 02/16/2018, 10:35 AM
ZS
-0.68%

Soybean made five waves up into wave A from January lows, and later a temporary drop as a corrective wave B that found a base near the 970 level. From there, a new impulsive reaction came into play which we now see as part of wave iii of C. If that is the case, then more gains may follow for soybean, especially once the corrective blue wave iv finds support. That said, at the moment we still see minor pullback in wave iv of iii unfolding.

Soybean, 4H
Soybean 1-Hour Chart

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