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Soybean Oil Futures

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ZL1! trade ideas

ZL1 Soybean Oil Cont short term LONG soon I see a LARGE ABC down with a short term bullish Gartley forming in green advancing to $30 ish (B leg), then June into August bearish completion at $19 possible $15 entry to Long. I admit I have not traded Soybean Oil but twice and this is forecasting out pretty far so take my view with a grain of salt. Soybeans & Soybean oil do not appear the same. I'm seeing possible Deflation with the drop in CL leading the way. CL going negative in May spells trouble.
CBOT:ZL1!
by curazguy
Soybean oil significant downtrend possibly endingThis is a long position based on the principles of demand. These zones form when leftover buy orders are not filled by investors. When price returns to these levels, the buyers regain their positions and attempt to push the price up again. The volume profile indicator shows us where the heaviest volumes are located. It is relevant due to the fact that a quality demand zone is in the same position as the heaviest volumes. As a scalper, we look to take advantage of the small movements on these higher time frame zones. A 1 to 1 profit will suffice.
CBOT:ZL1!Long
by milTraderG
Sell Spread ZLN2020-ZLZ2020 Soybean Oil Commodity FuturesWe look as a first thing at the spread indicator which is a trend following indicator and suggests if the direction of the Soybean Oil spread is bearish or bullish . When the red line is above the green line the indicator is suggesting that the spread is bearish . Before to enter short, we look at the seasonality indicator as well to receive a confirmation. The seasonality indicator is suggesting that the Soybean Oil market is 92 % bearish . Because both indicators are bearish , in our opinion an opportunity is coming for short positions and you may consider to sell the spread ZLN2020-ZLZ2020 If you seasonality indicator would have suggested a bullish market for the Soybean Oil , that would have meant that the spread ZLN2020-ZLZ2020 would have been out of seasonality and therefore we would have avoided the trade. We look to our RS indicator to identify support and resistance levels. According to our strategy, the support and resistance can be used respectively to set our take profit and stop loss
CBOT:ZL1!Short
by Season_Spread
Long Term Prospects for SOY BEAN OILThe SOY BEAN OIL, symbol ZL, is in a Bear Market Rally with price trading above the 50 week ema, but the 50 ema below the 200 and 800 week emas. The 50 and 200 emas are starting to turn up, so price is starting to come out of accumulation / distribution. The price action appears to be finishing up the c-wave of a c-wave up, within a multi-year x-wave. This last week ended in a doji with a long wick up showing the rejection of higher prices. This is your indication showing the market is entering a period of consolidation where the emas start coming together. The Market is in a Bear Market Rally on the daily, with price above the 50 ema, which is above the 200 and 800 emas, with the 200 ema still below the 800 ema. Price is topping out with three pushes up in this wave, and dark clouds and shooting stars warning of a top. The Market is in a Bull Market on the 4 hour, with price trading above the 50 ema, which is above the 200 ema, which is above the 800 ema. Price is correcting having dropped below the 13 ema and having tested the 30 ema twice. There is also a big old nasty shooting star which makes for a good peak formation. Probably open down next week and trade up towards the back end of the coming week to finish out an M-Top formation, before starting a sideways consolidation, which will likely be a triangle. This is my SOY BEAN OIL look ahead for my own trading purposes. FUTURES trading involves risk. Feel free to comment, but trade off of this post at your own peril.
CBOT:ZL1!
by Cincinnatuus
$ZL_F Failed bullish formation leading to bearish set up.I was entering long here not that long ago. The breakout did not develop into anything and I was stopped out with a few pips in profit. Right now however I see that failed bullish formation may turn into bearish pay. I often see this in the market, if underlying security failed to do one thing it will do the opposite. I would be cautious right now and get out fast if this does not go well but I think this can bring at least 50 pips.
CBOT:ZLZ2019Short
by Trade2Double