SOYBEAN OIL

- USD (-)

- 10 min delayed data - CBOT Futures

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Commodities
Ticker:	BO
ISIN:

SOYBEAN OIL - Daily - Technical analysis published on 01/13/2022 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Bullish

Underlying: Slightly bullish

Technical indicators

72%

28%

My opinion

Bullish above 58.08 USD

My targets

59.77 USD (+0.89%)

63.38 USD (+6.98%)

My analysis

The basic trend is currently slightly bullish on SOYBEAN OIL and the short term does not seem to show any sign of improvement. Buyers are struggling to get their hands on this instrument. However, as long as the price remains above 58.08 USD, purchases could be favourable. The first bullish objective would be the resistance located at 59.77 USD. Then the price could move towards 63.38 USD. Then 64.76 USD by extension. A return under the support to 58.08 USD could jeopardize this fragile bullish trend. Indecision would then be total and in this case you could keep away.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

5.4

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

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 59.24 USD. The price registered a decrease of -0.22% on the session with the lowest point at 58.73 USD and the highest point at 59.58 USD. The deviation from the price is +0.87% for the low point and -0.57% for the high point.

58.73

59.58

59.24

Here is a more detailed summary of the historical variations registered by SOYBEAN OIL:

The Central Records scanner for higher/lower results shows an item:

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this Daily chart of SOYBEAN OIL indicates that the overall trend is slightly bullish. Only 60.71% of the signals given by moving averages are bullish. This slightly bullish trend is not supported by the signals currently being given by short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:

Bullish trend reversal : Moving Average 100

Type : Bullish

Timeframe : Daily

In fact, 13 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

RSI indicator: bearish divergence

Type : Bearish

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

The Central Indicators scanner found no further results concerning independent technical indicators.

No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	52.29	54.87	58.08	59.24	59.77	64.76	68.97
Change (%)	-11.73%	-7.38%	-1.96%	-	+0.89%	+9.32%	+16.42%
Change	-6.95	-4.37	-1.16	-	+0.53	+5.52	+9.73
Level	Intermediate	Major	Minor	-	Major	Major	Minor

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	56.57	57.23	58.30	58.96	60.03	60.69	61.76
Camarilla	58.89	59.05	59.21	59.37	59.53	59.69	59.85
Woodie	56.78	57.33	58.51	59.06	60.24	60.79	61.97
Fibonacci	57.23	57.89	58.30	58.96	59.62	60.03	60.69

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	53.45	54.87	56.83	58.25	60.21	61.63	63.59
Camarilla	57.85	58.16	58.47	58.78	59.09	59.40	59.71
Woodie	53.71	55.01	57.09	58.39	60.47	61.77	63.85
Fibonacci	54.87	56.16	56.96	58.25	59.54	60.34	61.63

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	44.23	47.66	52.09	55.52	59.95	63.38	67.81
Camarilla	54.37	55.09	55.81	56.53	57.25	57.97	58.69
Woodie	44.74	47.91	52.60	55.77	60.46	63.63	68.32
Fibonacci	47.66	50.66	52.51	55.52	58.52	60.37	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):	59.76
MACD (12,26,9):	0.7200
Directional Movement:	6.86
AROON (14):	57.14
DEMA (21):	58.24
Parabolic SAR (0,02-0,02-0,2):	57.16
Elder Ray (13):	1.13
Super Trend (3,10):	54.64
Zig ZAG (10):	59.23
VORTEX (21):	1.2000
Stochastique (14,3,5):	89.92
TEMA (21):	59.35
Williams %R (14):	-10.22
Chande Momentum Oscillator (20):	2.59
Repulse (5,40,3):	2.1100
ROCnROLL:	1
TRIX (15,9):	0.0700
Courbe Coppock:	14.33

MA7:	58.95
MA20:	56.82
MA50:	57.28
MA100:	58.32
MAexp7:	58.70
MAexp20:	57.56
MAexp50:	57.56
MAexp100:	57.77
Price / MA7:	+0.49%
Price / MA20:	+4.26%
Price / MA50:	+3.42%
Price / MA100:	+1.58%
Price / MAexp7:	+0.92%
Price / MAexp20:	+2.92%
Price / MAexp50:	+2.92%
Price / MAexp100:	+2.54%

Quotes : - 10 min delayed data - CBOT Futures

This member declared not having a position on this financial instrument or a related financial instrument.

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