Soybean Oil Futures
55.72USX / LBRD
−0.27−0.48%
As of today at 02:21 GMT
USX / LBR
No trades
ZL1! trade ideas
Temporary SellingRetracement may occur.
Entry type : pullback
Cut loss : if price fail to break trend line after retracement
Looking Buying OpportunityPrice should break trend line to show buying momentum in action.
Entry : Pullback
Fibonacci area : 61.8 - 78.6%
SOYBEAN OIL 60M long60M chart - it's making bigger corrective wave. seems that ABC pattern there. expect to move soon and go for long. i guess it will find the resistance trendline and breakout. once breakout, i am waiting for the corrective wave for the downside move and find the 4H support trendline.
SOYBEAN OIL 15M chart sell setup15M - sell setup seems there. waiting to break the support trendline then go short.
Im long soybean oilSaw a double bottom and got the indicator confirmation. Long with stops at break even
ZL (SBO) EW counting - heading southSBO currently hit upper channel. estimated wave 3 downward direction begin
ZL Soybean Short PUT on SoyBean due to seasonal aspects and extreme long positioning of commercial traders, highly raised volatility in the last days
Mid-term cyclic bullish setup for Soybean oil - ZL CBOT FuturesLook forward for gain starts in early April
CBoT beanoil weeklyThe 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 it to now again.
Quite significant is the fact that last week’s candle is a so-called ‘Double Key Reversal’ which means that price made a lower low than the preceding week but closed higher than the 2 preceding weeks. A ‘Double Key Reversal’ is a very reliable and strong bode that price will make an immediate reversal which, in this case, is to the upside.
Unless proven the contrary, there is no reason to doubt that price is on the way up from here with, roughly, the 40.00 level as price target. Price could, however, make a minor pull-back first during the coming week which is shown in the daily chart.
CBoT BeanoilThe 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.
Long Soybean Oil As long as in the trend, never beat them.
Good entry for long position. Kindly follow me for new update.
Thanks. ^^
CBoT beanoilBeanoil:
The beanoil price has taken out some pivotal supportive levels during the past week even though the 34 mark remains unbroken. Like in soybeans and in soyameal we will have to allow the tradable bottom more time until the end of January or, possibly, into February.
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 corrective move down from here towards the 36.50/36.00 zone where price is expected to find a solid base for a substantial move up to reach the 40.00 level at around mid January. From there, after a minor corrective move down again, price can then trade further up to the 44.00 level before the start of spring. A break down through the 34.00 level would negate our long term bull scenario.
CBoT beanoilBeanoil:
The bull flag pattern that we detected last week on this chart failed. We want to take a break for now on this market and need to see what will develop during the coming 1 or 2 weeks.
