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.
On the 4H and 1H chart, a more aggressive position may be taken when the ADX on both turn positive with the +DMI moving above -DMI and up through 20 along with an up move in price. This should coincide with other indicators (slow stoch, TSI and RSI) turning positive.
On the Daily chart, a green bar close above the current red retrace line should signal that the up trend is continuing.
On the 4H and 1H chart, a more aggressive position may be taken when the ADX on both turn positive with the +DMI moving above -DMI and up through 20 along with an up move in price. This should coincide with other indicators (slow stoch, TSI and RSI) turning positive.
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