Soybean oil10.25.24 soybean oil is trading in a Range box but the general pattern looks as if it's going to make newer highs despite a two-bar reversal at the time of this video that suggests that the Market's going to go a little bit lower first.
Soybean Oil’s Red Pill Moment: The Short Signal Just Hit"You’ve been waiting, watching, wondering when the veil would lift. Today is that day."
Soybean oil just crossed a threshold, one that turns theory into action. This isn't just a hint anymore; it’s a red pill moment. Today, we got the confirmation we needed: a Daily bearish momentum divergence trig
Soybean Oil : Are we in a wave 3 of 3 of 3???Looking closer at the smaller structure, it appears very excitably bullish. The upside potential is highly probable. An impulsive push should validate the 3 of 3 of 3. Technical indicators are supportive too.
Soybean Oil Futures
The price is in a downtrend in the recent days, indicated by the series of lower highs and lower lows from the last peak around $45.
Current price level: $41.90, which marks a significant drop of -3.30% on the last candle.
There seems to be support around $41, which has been tested multiple time
COT Analysis - Grain SectorThis week, ZL, ZM, ZC & ZW are all setup for shorts based on the COT strategy.
This is a SETUP market, it does not mean short now. It means if I am presented with an entry TRIGGER, I will enter short. Until then, I wait.
Enjoy your weekend.
ZL. Zigzag for wave 2.Working on the idea of a Zigzag pattern for Wave ((2)) in the soybean oil market.
In Elliott Wave Theory, a Zigzag pattern is a corrective wave pattern that usually consists of three waves:
Wave A:
This is the initial decline from 42.68 in 5 wave sequence, setting the stage for the corrective pa
Gold and silver this is December 5th and I'm looking at a number of markets in addition to the metals. there were nice easy moves on gold and silver for a scalp. the soybean oil may start going higher if it finds a 2-point reversal to go higher and then I would look for it to possibly break higher and expand if
Multiple markets in this video I went back and looked at all the markets that I talked about this weekend and earlier today. right...now it's about noon New York Standard Time. and they wanted to review if the thoughts that I had on a previous day represent what I described or not based on the price action of
Soybean oil Dec: Setup for the hourlyThere is a likely 5 wave sequence(hourly) to the upside which should call for more attention and also knowing your risk level. The presence of a positive divergence against MACD gives weight to the possibility of the pending upturn.
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A representation of what an asset is worth today and what the market thinks it will be worth in the future.
Displays a symbol's price movements over previous years to identify recurring trends.
Frequently Asked Questions
The current price of Soybean Oil Futures is 45.75 USX / LBR — it has fallen −1.60% in the past 24 hours. Watch Soybean Oil Futures price in more detail on the chart.
The volume of Soybean Oil Futures is 2.86 K. Track more important stats on the Soybean Oil Futures chart.
Open interest is the number of contracts held by traders in active positions — they're not closed or expired. For Soybean Oil Futures this number is 180.65 K. You can use it to track a prevailing market trend and adjust your own strategy: declining open interest for Soybean Oil Futures shows that traders are closing their positions, which means a weakening trend.
Buying or selling futures contracts depends on many factors: season, underlying commodity, your own trading strategy. So mostly it's up to you, but if you look for some certain calculations to take into account, you can study technical analysis for Soybean Oil Futures. Today its technical rating is buy, but remember that market conditions change all the time, so it's always crucial to do your own research. See more of Soybean Oil Futures technicals for a more comprehensive analysis.