Breakout-pullback pattern on soy

On the weekly chart of soy, August contract, we can see that price first breaks above the 200 day exponential moving average, around the 1113 and makes a high on the 1207. After the high on the 1207 level, the price goes back down to find support on the same 200 day EMA area. From that moving average the price bounces back up, completing what it is known as a breakout-pullback pattern. The price may continue rallying and it may visit once again the 1207 level. To the downside, the same 200 day EMA may act as support if price drops back down.