Remko

CBoT beanoil stopped out and now neutral

CBOT:ZLZ2016   SOYBEAN OIL FUTURES - ECBT
11 0 2
Beanoil:
Price posted a solid gain of over 6% during the first 3 days of the week after which 2 'Hanging Man' candles were formed. This could be a sign the end of the rally is imminent but same needs confirmation. We have been calling for lower levels and with a rise of over 11% the contrary happening during the past 2 weeks. Stops were hit and it is time for us to step back and reconsider what is actually happening here.
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