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A technical analysis of soybean oil futures argues the trend is bullish, with prices above key RSI levels indicating the prior February-June downtrend has ended. The author advises edible oil buyers to use price pullbacks to extend coverage, citing a critical support level near 30.24.
Technical bullish signals and buyer advice to add coverage on dips suggest upward pressure on soybean oil prices, though this is a forecast rather than a new supply or demand event.
trilatinc.comMatthewNov 12, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
