Soybean : A close up of a probable bottom
Following up on the previous posting where confluences in technical support suggest a high probable bottoming in the longer term. This shorter term display suggests a possible 5 wave sequence up which may be the mother of another bull trend in the making. We can comfortably qualify our risk level here against the potential reward if this is the start of a bull phase.
Note
Price extended to tested 0.886% retracement value Note
and c = a confluence with 0.886% retracement showed support.
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