# Vegetable Oil Prices Moving in Tandem

> Soybean oil prices found technical support at the 61.8% retracement of the 2019 rally and the 200-day moving average after a sharp correction. A DTN analyst says a bullish divergence suggests the correction may be complete, with prices expected to rise if they clear the $32.11 high.

- Date: 2020-02-10 · published 2020-02-10T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/54689-vegetable-oil-prices-moving-in-tandem
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

This is technical chart commentary with no new supply or demand driver, so it offers little fundamental price signal for feed buyers.

## Read by commodity

- SBO: neutral
- PALMOIL: neutral

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/Ag/blogs/technically-speaking/blog-post/2020/02/10/vegetable-oil-prices-moving-tandem

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.