skybays

ZLK 2021 May Elliott Wave Analysis

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CBOT:ZLK2021   Soybean Oil Futures (May 2021)
We had a five wave move to the upside with an extended 3rd wave. I will be looking for a corrective move to the downside once I get a B wave I will target the 1.272 fib extension for a smaller risk short position due to the overall trend being up. After this correction I will be looking back long for Soybean.
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