Remko

CBoT beanoil stopped out and waiting

CBOT:ZLZ2016   SOYBEAN OIL FUTURES - ECBT
12 0 3
Beanoil:
During the 2nd half of August we were taken a bit by surprise by price's upswing which stopped us out from our bear bias. The picture of today does not really give us a very clear vision on the nearby future.
Principally, we should see price resuming to the upside from here and especially now to seek for the 36/37 zone from where price can resume its long term down trend. However, price should then not break the 32.60/32.50 level in which case we will have to turn back to an immediate bear scenario.
Bottomline, we are holding our horses for now and await what will unfold during the coming week before taking any side.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out