Of the grains and oilseeds, soybean oil has been the clear laggard. Corn, wheat, soybeans, and even soybean meal have seen notable rallies over the course of the last 4-6 weeks. However, there are indications that may soon change. As ingredient buyers know, soybean oil typically trades at a significant premium to its rival palm oil. The chart below overlays a...
mari kita tengok sama ada pattern ni berjaya atau tidak..jika benar dan patah neckline pattern tersebut, SBO akan menjunam lebih jauh..
SBO will going down more and then rebound back..
It is already 10 years since commodities super cycle took commodity markets to the all time high and soybean oil (ZL) market has been in the corrective period ever since. In a monthly chart, we could see that the correction of larger degree takes in the form of flat correction (3-3-5). As far as supply and demand (SnD) is concerned, there are 2 demand zones of...