At last looked soy oil futures trading 0.11 lower at 37.41. Last night soy oil managed to reached the high at 37.94. Daily chart wise, soy oil is still supported by the mid Bollinger band and remained trading above it = market has yet to turned into negative sentiment. Bollinger band continue to hold narrower = correction has yet to end after the upward price surged. MACD Histrogram falled but at a slower pace = mixed sentiment in both buyer and seller towards the direction of the market. Should soy oil break the support with MACD Histrogram going lower into negative zone will lead market into a bearish development, else the soy oil are likely to trade side way with upward climb potential.
No comments:
Post a Comment