Lanmar
Long

Soybean Oil Long term

CBOT:ZL1!   SOYBEAN OIL FUTURES - ECBT
132 5 5
Major set-up right here.
Comment: Taking profit at 37.9
Comment: This was one of my most optimistic markets 5 months ago from a long standpoint. Definitely did not think a retracement of this magnitude would occur. At this point I see the following possibility:

Ideally, we see price revert all the way down to 26. That would be a spectacular risk/reward opportunity with a high probability rebound.
Comment: Trend line is broken
Trade active: Buy aggressively. Long at 32
This down trend worth keeping an eye on
Reply
Awesome call. The dump for balancing just before the presidents day weekend hit your trend line on the mark.Do you suspect it to bounce now or break the trend?
+1 Reply
Lanmar mesflash
@mesflash, Hi Mesflash. Difficult to say. The lower trend line is drawn incorrectly. price should find some support at the 31.50 level. Depending on his price reacts I may elect to cover this market again. In the mean time I prefer to stay away.
Reply
Lanmar mesflash
Will update on my interested price levels
Reply
@Lanmar, I am also bullish on this hahahahaha.You Are a Master.
Reply
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