Soybean oil: Will a downtrend start soon?
|Thursday forecast (September 22, 2022)
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 63,38, which will be followed by reaching resistance level 68,84.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 63,38, which will be followed by moving down to support level 61,24.
Weekly forecast (September 18 – 23, 2022)
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 63,38, which will be followed by reaching resistance level 68,84.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 63,38, which will be followed by moving down to support level 60,20.
Previous week forecast
Monthly forecast, September 2022
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 73.74, which will be followed by moving up to resistance level 87.65.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 73.74, which will be followed by reaching support level 54.42 – 51.
Previous week forecast
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