Beanoil CBoT
Beanoil:
Price broke out through the downside of the long term ascending price-channel which means that we have to go back to the drawing table and reconsider our bias. Our bullish scenario has failed an stops were hit. Former support at the 32 level has now become resistance and we expect same resistance to be tested some time during the coming week or week after. Same test would offer an excellent short entry opportunity.
Price broke out through the downside of the long term ascending price-channel which means that we have to go back to the drawing table and reconsider our bias. Our bullish scenario has failed an stops were hit. Former support at the 32 level has now become resistance and we expect same resistance to be tested some time during the coming week or week after. Same test would offer an excellent short entry opportunity.
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