SOYBEAN OIL - 1H - Technical analysis published on 10/13/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : NEUTRAL
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Slightly bearish
Technical indicators
83%
0%
17%
My opinion
Neutral between 59.77 USD and 60.98 USD
My targets
-
My analysis
The short-term increase on SOYBEAN OIL remains moderate but could challenge the slightly bearish basic trend. It is difficult to advise a trading direction under these conditions. The first resistance is located at 60.98 USD. The first support is located at 59.77 USD. You could remain on the sidelines waiting for a more pronounced price movement on this instrument. A new analysis could then be carried out to provide clearer signals.
In the very short term, despite the neutral opinion of this analysis, technical indicators are bullish and could soon allow change to a bullish sentiment.
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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
SOYBEAN OIL rating 60.32 USD. The price has increased by +2.50% since the last closing and was traded between 58.83 USD and 60.65 USD over the period. The price is currently at +2.53% from its lowest and -0.54% from its highest.58.83
60.65
60.32
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by SOYBEAN OIL:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of SOYBEAN OIL in 1H shows an overall slightly bearish trend. Only 50.00% of the signals given by moving averages are bearish. This slightly bearish trend could turn neutral or reverse given the slightly bullish signals currently being given by short-term moving averages. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish trend reversal : adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
Bullish trend reversal : adaptative moving average 100
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, 15 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 57.71 | 58.32 | 59.77 | 60.32 | 60.98 | 61.89 | 63.08 |
| Change (%) | -4.33% | -3.32% | -0.91% | - | +1.09% | +2.60% | +4.58% |
| Change | -2.61 | -2.00 | -0.55 | - | +0.66 | +1.57 | +2.76 |
| Level | Minor | Minor | Major | - | Minor | Minor | Intermediate |
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 | 55.89 | 57.20 | 58.03 | 59.34 | 60.17 | 61.48 | 62.31 |
| Camarilla | 58.26 | 58.46 | 58.65 | 58.85 | 59.05 | 59.24 | 59.44 |
| Woodie | 55.64 | 57.08 | 57.78 | 59.22 | 59.92 | 61.36 | 62.06 |
| Fibonacci | 57.20 | 58.02 | 58.53 | 59.34 | 60.16 | 60.67 | 61.48 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 53.30 | 55.57 | 58.54 | 60.81 | 63.78 | 66.05 | 69.02 |
| Camarilla | 60.07 | 60.55 | 61.03 | 61.51 | 61.99 | 62.47 | 62.95 |
| Woodie | 53.65 | 55.75 | 58.89 | 60.99 | 64.13 | 66.23 | 69.37 |
| Fibonacci | 55.57 | 57.57 | 58.81 | 60.81 | 62.81 | 64.05 | 66.05 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 49.62 | 51.90 | 55.36 | 57.64 | 61.10 | 63.38 | 66.84 |
| Camarilla | 57.24 | 57.77 | 58.29 | 58.82 | 59.35 | 59.87 | 60.40 |
| Woodie | 50.21 | 52.20 | 55.95 | 57.94 | 61.69 | 63.68 | 67.43 |
| Fibonacci | 51.90 | 54.09 | 55.45 | 57.64 | 59.83 | 61.19 | 63.38 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 60.31 | |
| MACD (12,26,9): | -0.0600 | |
| Directional Movement: | 11.47 | |
| AROON (14): | 85.71 | |
| DEMA (21): | 59.68 | |
| Parabolic SAR (0,02-0,02-0,2): | 59.42 | |
| Elder Ray (13): | 0.59 | |
| Super Trend (3,10): | 59.40 | |
| Zig ZAG (10): | 60.51 | |
| VORTEX (21): | 1.0300 | |
| Stochastique (14,3,5): | 87.94 | |
| TEMA (21): | 59.96 | |
| Williams %R (14): | -8.08 | |
| Chande Momentum Oscillator (20): | 1.52 | |
| Repulse (5,40,3): | 0.7500 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0700 | |
| Courbe Coppock: | 1.83 |
| MA7: | 60.70 | |
| MA20: | 58.44 | |
| MA50: | 59.11 | |
| MA100: | 61.33 | |
| MAexp7: | 60.05 | |
| MAexp20: | 59.85 | |
| MAexp50: | 60.25 | |
| MAexp100: | 60.38 | |
| Price / MA7: | -0.63% | |
| Price / MA20: | +3.22% | |
| Price / MA50: | +2.05% | |
| Price / MA100: | -1.65% | |
| Price / MAexp7: | +0.45% | |
| Price / MAexp20: | +0.79% | |
| Price / MAexp50: | +0.12% | |
| Price / MAexp100: | -0.10% |
Quotes :
-
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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