Bearish Indication of SOYANEAN OIL.
As the big players are in profit-taking mode after the uptrend, the price continues to fall.
Besides, the demand side of soyabean is at uncertain as one of the leading consumers, china is dealing with covid-19 pandemic again.
only a few commodities are currently on my long trade list
Today an entry on the 12 min chart was also possible, but like last week the better entry will be near the 18 SMA for a longer term play...
I don't know anything about Soybean Oil, but I watch the price that shows everything I need to know.
This is quite a long term one since it's the weekly, but it's so beautiful! Although the primary trend is still long, market participants printed a nice impulse wave on the way down. This last couple of slow waves make up a correction of the impulse wave while...
Hello to all investors, according to my previous studies and according to my experience as a trader, I see a good investment opportunity with a high probability of success, the details are reflected in the graph
7. 19. 22 Euro futures 6E1! Dxy Wheat ZW1! Soybean oil ZL1! This is a quick review of a few tradable futures markets. I show what attracts me to look at a market, and sometimes that requires that I use much larger time frames. I used to Euro futures as an example of longer-term trading and give some possibilities for Traders who don't want to DayTrade as...
Soybean oil futures closed last session on a long established support level and down fib extension. With crude climbing back up and after today's sell off this is likely to pop when the market re-opens.
Joining a global commodities rout, Soybean Oil had a rough time in the past 2 weeks, tumbling close to 22%. The move precipitated after breaking the 6-month uptrend and has struggled to find support until now.
After bouncing off the $65 support level and the 61.8% Fibonacci retracement, prices seem to have found a floor, ready to make the next leg upwards.
i will be following this drawing.
* None of what i write here is not an investment advice. Please do your own research before investing in any digital asset.
* Never take my personal opinions as investment advice, you may lose your money.
Crude Oil and Soybean Oil had nice moves to the downside after INSIDEDAYs
have a look at other markets are either in long or downtrends:
at least for soybean oil its time to take profits at aprils low...
Preferred Case: on the H4, with price moving in a descending trend channel and moving below the ichimoku cloud, we have a bearish bias that price will drop from the pivot at 80.73 in line with the 78.6% fibonacci projection and swing high to the 1st support at 76.83 in line with the horizontal swing low and 78.6% fibonacci projection.
China, one of the largest consumer of soybean oil, has tapered its demand for the edible oil due to COVID-related control measures over the past few months. With new cases falling and lockdown for Shanghai expected to be lifted soon, we see positive demand drivers on the horizon for soybean oil. Restaurants are among the largest consumers of the oil. As consumers...
Buy Bean oil @ Market- 1st TP 84.72, Stop @78.90
**Trading commodity futures and options involves substantial risk of loss.
The recommendations contained in this letter is of opinion only and
does not guarantee any profits. These are risky markets and only
risk capital should be used. Past performance is not indicative of future results**
Type : Bearish Continuation
Support : 82'04
Preferred case: With price expected to reverse off the resistance of the ichimoku cloud , we see a potential bearish continuation from our pivot level of 83'76 which is in line with 50% Fibonacci retracement and horizontal pullback resistance towards our 1st support level of 82'04 which is...