Soybean Oil
-market reversed gains and closed lower on technical selling and profit taking after recent surged despite latest export soared
-market likely to move lower if market stays below 62.50; target market range 60.00-62.50
-support level:
S1 62.00 S2 61.39 S3 60.77
-resistance level:
R1 63.00 R2 63.61 R3 64.23
-yesterday daily settlement: 62.58
mid: 63.71
strategy 1: Short if stay below 62.00
tg stop 62.61
tg exit 60.16-61.39
strategy 2: Long if stay above 64.50
tg stop 63.89
tg exit 65.11-66.34
-market reversed gains and closed lower on technical selling and profit taking after recent surged despite latest export soared
-market likely to move lower if market stays below 62.50; target market range 60.00-62.50
-support level:
S1 62.00 S2 61.39 S3 60.77
-resistance level:
R1 63.00 R2 63.61 R3 64.23
-yesterday daily settlement: 62.58
mid: 63.71
strategy 1: Short if stay below 62.00
tg stop 62.61
tg exit 60.16-61.39
strategy 2: Long if stay above 64.50
tg stop 63.89
tg exit 65.11-66.34
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.