beanoil

Remko Remko ZLK2017, D, Long , 17 days ago
ZLK2017: CBoT Beanoil
5 0 2
ZLK2017, D Long
CBoT Beanoil

The daily MAY17 chart does not tell us an awful lot other than that price has been trading with a descending channel. If and when price breaks the upper boundary of the channel it will have plenty of room to the upside to develop a rally but the first 2 or 3 sessions will probably to the downside during the coming week.

Remko Remko ZL1!, W, Long , 17 days ago
ZL1!: CBoT beanoil weekly
3 0 0
ZL1!, W Long
CBoT beanoil weekly

The weekly continuation char shows an ascending price channel of which the lower boundary started at around 25.00/26.00 during August/September 2015 and offered support to price during July/August 2016 at around the 30.00 level as well as during the past 2 weeks at around the 32.50 level. Price has been bouncing up from this supportive trend line which we expected ...

Remko Remko ZLH2017, D, 3 months ago
ZLH2017: CBoT Beanoil almost ready for a long play
13 1 2
ZLH2017, D
CBoT Beanoil almost ready for a long play

Beanoil: Like the rest of the soy complex, the beanoil price has developed an ascending channel during the past months with higher highs and higher lows. During the past week price developed and ascending wedge towards the higher end of the price channel from where, as per the TA rules of thumb, price broke out to the downside. We expect price to continue its ...

mikebiz mikebiz PRO BO1!, W, 4 months ago
BO1!: Soybean Oil still looking bullish
33 0 0
BO1!, W
Soybean Oil still looking bullish

Soybean oil is still looking bullish on both the daily and weekly charts. The 4H chart has its ADX drop to 20 with both +/-DMI below it so some period of price consolidation is expected. However, the last time this type of consolidation happened on 4H chart, there was a big move up on the breakout. With the daily and weekly ADX both looking bullish (ADX above ...

mikebiz mikebiz PRO BO1!, 240, Long , 4 months ago
BO1!: Soybean Oil price consolidating short term
10 0 0
BO1!, 240 Long
Soybean Oil price consolidating short term

Soybean Oil looks like it is consolidating price short term as the ADX has dropped below 20 on 4H chart. However, the monthly, weekly, and daily charts look bullish. Once price breaks out of the consolidation on 4H chart, I'm looking for it to move higher. The daily and weekly charts have price moving up over the 9/20/50 period EMA with monthly looking like it ...

mikebiz mikebiz PRO BO1!, W, Long , 4 months ago
BO1!: Soybean Oil providing opportunity to enter up move
18 0 0
BO1!, W Long
Soybean Oil providing opportunity to enter up move

The up move that has begun in Soybean Oil has paused briefly giving an opportunity to get in to upside. Both the weekly and daily chart are bullish while the 4H and 1H look to be completing a corrective move. On the Daily chart, a green bar close above the current red retrace line should signal that the up trend is continuing. ...

Remko Remko ZLZ2016, D, 5 months ago
ZLZ2016: CBoT beanoil no position
7 0 1
ZLZ2016, D
CBoT beanoil no position

Beanoil: Price made a strong 3% move up during the Monday session after which it has been developing a pennant which is a continuation pattern. The pattern seemed to fail during last Friday's session when price made a move to the downside but still closed within the boundaries of the pennant pattern. We expect price to continue going up from here on very short ...

Remko Remko ZLZ2016, D, 5 months ago
ZLZ2016: CBoT not going anywhere
6 0 2
ZLZ2016, D
CBoT not going anywhere

Beanoil: Price made a 3% move up to the week which mostly came through during Friday's session. Price broke the 2 pivotal resistance levels at 33.75 and 34.29 during the week and close above same levels which, principally, will give price the possibility to trade up further and possibly reach the 36/37 level. Having said so, the move of the past week could also ...

Remko Remko ZLZ2016, D, 5 months ago
ZLZ2016: CBoT beanoil remains neutral for now
5 0 0
ZLZ2016, D
CBoT beanoil remains neutral for now

Beanoil: This pice has given us quite a bit of headaches during the past week as it is just not going anywhere very fast. After a 'spinning top' during the week before last week price has now drawn a perfect 'doji' during the past week with an opening price of the first session of the week to be at exact the same level as the closing price of the last session of ...

Remko Remko ZLZ2016, D, 5 months ago
ZLZ2016: CBoT beanoil still neutral
3 0 1
ZLZ2016, D
CBoT beanoil still neutral

Beanoil: We have framed a bear scenario on this price for quite a long time now which was harshly interrupted by the fierce upswing during the first half of August and, to a lesser extend, by the corrective move up during mid September. As long at the most recent high of 34.83 of August 23 remains unbroken we can keep our bear scenario intact but we would like to ...

Remko Remko ZLZ2016, D, 5 months ago
ZLZ2016: CBoT beanoil sidelined
5 0 0
ZLZ2016, D
CBoT beanoil sidelined

Beanoil: The impulsive and strong move up during the early stage of last week hit our stops and forced us out of the market place. Looking at it from the sideline we see that the last crucial barrier between current levels and the 36/37 level has not been broken. At the same time, however, we are not convinced that the sideways move and especially Friday's lower ...

Remko Remko ZLZ2016, D, Short , 6 months ago
ZLZ2016: CBoT beanoil remains a short play
3 0 0
ZLZ2016, D Short
CBoT beanoil remains a short play

Beanoil: Price started the week with quite an impulsive move to the downside of well over 4% in just 2 sessions but made a relatively strong corrective move back up during especially the Thursday session. Nothing changes in our outlook and we maintain our bear bias. We expect price to continue its downtrend immediately from Monday's opening onward. The crucial ...

Remko Remko ZLZ2016, D, 6 months ago
ZLZ2016: CBoT Beanoil still undecided
3 0 3
ZLZ2016, D
CBoT Beanoil still undecided

Beanoil: Price keeps us in doubt on where to look for the short term. Longer term we remain bearish with a price target at 2600 or lower but our key question for today is where price will move during the coming week. We wanted to see either a decisive break of the 3260/3250 level and a break of the 3220 mark after that or a move to the upside to reach for 36 ...

Remko Remko ZLZ2016, D, 6 months ago
ZLZ2016: CBoT beanoil stopped out and waiting
12 0 3
ZLZ2016, D
CBoT beanoil stopped out and waiting

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 ...

Remko Remko ZLZ2016, D, 7 months ago
ZLZ2016: CBoT beanoil stopped out and now neutral
11 0 2
ZLZ2016, D
CBoT beanoil stopped out and now neutral

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 ...

Remko Remko ZLZ2016, D, Short , 7 months ago
ZLZ2016: CBoT beanoil remains a short play
8 0 3
ZLZ2016, D Short
CBoT beanoil remains a short play

Beanoil: Price has traded up further than our liking and than what we were expecting. The overall picture remains a bear biased scenario for us with a possible further swing up to 33.50 now which is a 61.8% Fibonacci retrace level. We expect decline of price but with keeping the Fibonacci resistance level in mine and we expect accelerated volatility of the down ...

Remko Remko ZLZ2016, D, Short , 7 months ago
ZLZ2016: CBoT beanoil
14 0 0
ZLZ2016, D Short
CBoT beanoil

Beanoil: Nothing new from this chart this week. Price traded to mildly higher levels during the past week and has reached its support level within the descending price channel. There could be a bit of overshoot to the upside from here but we expect price to reverse resume the downtrend during the coming week.

Remko Remko ZLZ2016, D, Short , 8 months ago
ZLZ2016: CBoT beanoil maintain short
17 0 1
ZLZ2016, D Short
CBoT beanoil maintain short

Beanoil: Price has been moving sideways longer that we would have thought and liked which made us think that we might have to get back to the drawing board. Last Friday's session gave a very strong move to the downside with a higher high but a lower close that the 2 previous sessions which makes it a 'double key reversal' which is a very powerful reversal pattern. ...

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