SOYBEAN OIL - Daily - Technical analysis published on 09/28/2021 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bearish
Technical indicators
67%
0%
33%
My opinion
Bearish under 59.77 USD
My targets
54.83 USD (-5.17%)
52.33 USD (-9.49%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on SOYBEAN OIL. As long as you are under the resistance located at 59.77 USD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 54.83 USD would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 52.33 USD as an objective. Crossing it would then enable sellers to target 48.15 USD. If the resistance 59.77 USD were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
Technical indicators are opposing the general bearish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
0.7
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The SOYBEAN OIL rating is 57.82 USD. The price is lower by -0.50% since the last closing with the lowest point at 57.54 USD and the highest point at 58.17 USD. The deviation from the price is +0.49% for the low point and -0.60% for the high point.57.54
58.17
57.82
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this SOYBEAN OIL chart shows a bearish trend. 71.43% of the signals given by moving averages are bearish. Caution: as the signals currently given by short-term moving averages are rather neutral, the bearish trend could slow down. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The probability of a further increase are moderate given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
RSI indicator is back over 50
Type : Bullish
Timeframe : Daily
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 43.84 | 48.15 | 52.33 | 57.82 | 59.77 | 65.00 | 70.82 |
| Change (%) | -24.18% | -16.72% | -9.49% | - | +3.37% | +12.42% | +22.48% |
| Change | -13.98 | -9.67 | -5.49 | - | +1.95 | +7.18 | +13.00 |
| Level | Minor | Intermediate | Intermediate | - | Major | Intermediate | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 55.69 | 56.37 | 57.24 | 57.92 | 58.79 | 59.47 | 60.34 |
| Camarilla | 57.68 | 57.83 | 57.97 | 58.11 | 58.25 | 58.39 | 58.54 |
| Woodie | 55.79 | 56.42 | 57.34 | 57.97 | 58.89 | 59.52 | 60.44 |
| Fibonacci | 56.37 | 56.96 | 57.33 | 57.92 | 58.51 | 58.88 | 59.47 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 51.39 | 52.79 | 55.28 | 56.68 | 59.17 | 60.57 | 63.06 |
| Camarilla | 56.71 | 57.07 | 57.42 | 57.78 | 58.14 | 58.49 | 58.85 |
| Woodie | 51.95 | 53.06 | 55.84 | 56.95 | 59.73 | 60.84 | 63.62 |
| Fibonacci | 52.79 | 54.27 | 55.19 | 56.68 | 58.16 | 59.08 | 60.57 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 47.25 | 51.84 | 54.83 | 59.42 | 62.41 | 67.00 | 69.99 |
| Camarilla | 55.75 | 56.44 | 57.14 | 57.83 | 58.53 | 59.22 | 59.92 |
| Woodie | 46.46 | 51.44 | 54.04 | 59.02 | 61.62 | 66.60 | 69.20 |
| Fibonacci | 51.84 | 54.73 | 56.52 | 59.42 | 62.31 | 64.10 | 67.00 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 49.66 | |
| MACD (12,26,9): | -0.7000 | |
| Directional Movement: | 0.93 | |
| AROON (14): | -21.43 | |
| DEMA (21): | 56.45 | |
| Parabolic SAR (0,02-0,02-0,2): | 54.27 | |
| Elder Ray (13): | 0.63 | |
| Super Trend (3,10): | 59.98 | |
| Zig ZAG (10): | 57.88 | |
| VORTEX (21): | 0.9700 | |
| Stochastique (14,3,5): | 78.36 | |
| TEMA (21): | 56.67 | |
| Williams %R (14): | -19.26 | |
| Chande Momentum Oscillator (20): | 1.83 | |
| Repulse (5,40,3): | 1.8400 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.2600 | |
| Courbe Coppock: | 2.38 |
| MA7: | 56.73 | |
| MA20: | 57.15 | |
| MA50: | 59.84 | |
| MA100: | 62.03 | |
| MAexp7: | 57.26 | |
| MAexp20: | 57.55 | |
| MAexp50: | 59.05 | |
| MAexp100: | 59.02 | |
| Price / MA7: | +1.92% | |
| Price / MA20: | +1.17% | |
| Price / MA50: | -3.38% | |
| Price / MA100: | -6.79% | |
| Price / MAexp7: | +0.98% | |
| Price / MAexp20: | +0.47% | |
| Price / MAexp50: | -2.08% | |
| Price / MAexp100: | -2.03% |
Quotes :
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10 min delayed data
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CBOT Futures
This member declared not having a position on this financial instrument or a related financial instrument.
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