SOY MEAL

Low volatility periods are usually followed by high volatility and vice versa. Strong agricultural commodity prices are taking a breather but looks like trends are not over. Short-term sideways consolidations and low volatility ranges suggest upward breakouts and continuations. Soy Meal is one of the agricultural commodity that has been consolidating over the past one month. We are now very close to a strong breakout. Two levels to watch: Resistance: 550 and Support: 512.