Soy rallies and it is about to visit its 200 day EMA

The commodity markets have been under pressure during the past few weeks, but we see that today they seem to take a breather and soy rallies rapidly very close to its 200 day exponential moving average (blue line), around the 1012 level. That 200 day EMA may act as a resistance and the commodity may try to stall there or even bounce to the downside. However, if the rally continues and soy breaks above that level, it may try to go and visit the high around the 1053, which could act as a resistance like it did in the past. To the downside, the 936 zone could act as support where it made its latest low. Due to the strong rally that the commodity has made, the stochastics oscillator is entering the over-bought zone above the 80% level, but a pullback to the downside doesn’t seem to be near until the indicator drops below the 80% level.