SOYBEAN OIL - 1H - Technical analysis published on 03/21/2022 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above 73.03 USD
My targets
75.24 USD (+1.39%)
76.17 USD (+2.64%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on SOYBEAN OIL as long as the price remains well above 73.03 USD. The buyers' bullish objective is set at 75.24 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 76.17 USD. If there is any crossing, the next objective would be the resistance located at 77.22 USD.
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
0
10
5.7
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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 74.21 USD. The price registered an increase of +2.66% on the session and was traded between 72.58 USD and 74.39 USD over the period. The price is currently at +2.25% from its lowest and -0.24% from its highest.72.58
74.39
74.21
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
A study of price movements over other periods shows the following variations:
Technical
A technical analysis in 1H of this SOYBEAN OIL chart shows a bullish trend. 64.29% of the signals given by moving averages are bullish. The overall trend is reinforced by the strong bullish signals from short-term moving averages. An assessment of moving averages reveals several bullish signals that could impact this trend:
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with Moving Average 100
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:
MACD indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
MACD indicator is back over 0
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : 1 hour
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
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 64.76 | 72.08 | 73.03 | 74.21 | 75.24 | 76.17 | 77.22 |
| Change (%) | -12.73% | -2.87% | -1.59% | - | +1.39% | +2.64% | +4.06% |
| Change | -9.45 | -2.13 | -1.18 | - | +1.03 | +1.96 | +3.01 |
| Level | Major | Major | Intermediate | - | Intermediate | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 66.74 | 69.03 | 70.66 | 72.95 | 74.58 | 76.87 | 78.50 |
| Camarilla | 71.21 | 71.57 | 71.93 | 72.29 | 72.65 | 73.01 | 73.37 |
| Woodie | 66.41 | 68.87 | 70.33 | 72.79 | 74.25 | 76.71 | 78.17 |
| Fibonacci | 69.03 | 70.53 | 71.45 | 72.95 | 74.45 | 75.37 | 76.87 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 64.10 | 67.71 | 70.00 | 73.61 | 75.90 | 79.51 | 81.80 |
| Camarilla | 70.67 | 71.21 | 71.75 | 72.29 | 72.83 | 73.37 | 73.91 |
| Woodie | 63.44 | 67.38 | 69.34 | 73.28 | 75.24 | 79.18 | 81.14 |
| Fibonacci | 67.71 | 69.96 | 71.36 | 73.61 | 75.86 | 77.26 | 79.51 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 53.42 | 58.08 | 67.15 | 71.81 | 80.88 | 85.54 | 94.61 |
| Camarilla | 72.43 | 73.69 | 74.95 | 76.21 | 77.47 | 78.73 | 79.99 |
| Woodie | 55.62 | 59.18 | 69.35 | 72.91 | 83.08 | 86.64 | 96.81 |
| Fibonacci | 58.08 | 63.33 | 66.57 | 71.81 | 77.06 | 80.30 | 85.54 |
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): | 55.74 | |
| MACD (12,26,9): | 0.0300 | |
| Directional Movement: | 2.23 | |
| AROON (14): | 85.71 | |
| DEMA (21): | 73.51 | |
| Parabolic SAR (0,02-0,02-0,2): | 72.96 | |
| Elder Ray (13): | 0.15 | |
| Super Trend (3,10): | 72.61 | |
| Zig ZAG (10): | 74.18 | |
| VORTEX (21): | 1.0300 | |
| Stochastique (14,3,5): | 77.00 | |
| TEMA (21): | 73.72 | |
| Williams %R (14): | -10.18 | |
| Chande Momentum Oscillator (20): | 0.75 | |
| Repulse (5,40,3): | 0.3800 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0200 | |
| Courbe Coppock: | 3.30 |
| MA7: | 74.03 | |
| MA20: | 73.54 | |
| MA50: | 67.43 | |
| MA100: | 62.51 | |
| MAexp7: | 73.71 | |
| MAexp20: | 73.54 | |
| MAexp50: | 73.68 | |
| MAexp100: | 73.90 | |
| Price / MA7: | +0.24% | |
| Price / MA20: | +0.91% | |
| Price / MA50: | +10.05% | |
| Price / MA100: | +18.72% | |
| Price / MAexp7: | +0.68% | |
| Price / MAexp20: | +0.91% | |
| Price / MAexp50: | +0.72% | |
| Price / MAexp100: | +0.42% |
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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