Soybean oil looks like it should make its way back to the 53 area, hourly trend might be turning bearish, so looking to buy around 50.9 or so.
BeanOil has reached suppport (have a look at the weekly chart). Stochastic is diverging. This is a buy for me supported by seasonality. I would buy above today high with stop loss below tody low and target objective on the median line, Diffucult to evaluate when but I would say around 55.90. Soybean should be traded in a similar way. Leave you feedback and good trading!
I have noticed a trendline that could act as support and I have revised my previous study. I think the price move is going to be much faster. Sell 5635 with target objective 5370. This is also a sort of H&S pattern. I think the target could be reached by the end of next week. Leave your feedback!
Bean Oil ZLV2012 is moving inside a wide range. Resistance level at 5815 is still intact. The current price action is showing a trade opportunity. I would sell at 5630 with target 5360. Leave you feedback!