Soybean oil rebounded 100 ticks after dropping below the 38 level, oscillating within the opening range before deciding to move upward, although it remains below the key 40 level. Dead Cat Bounce or Further Recovery?
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Sunday, August 18, 2024
Tuesday, August 6, 2024
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06 Aug: Soybean oil lost its VWAP after the Dalian market opened and soon dropped below the 40 level without any significant fight back. Can anyone see any valid support?
Friday, August 2, 2024
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02 Aug: Soybean oil struggled at the 42 level for a long time. It tried to stay above 42 after the open but got rejected after several attempts and failed to reclaim the VWAP. Selling pressure increased after the opening range was broken, but buyers managed to defend the 41 level. What to Expect Next?
Tuesday, July 30, 2024
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30 July: Soybean oil opened with a sell-down to the 41 level, which did not hold and turned out to be a fakeout. The second attempt to sell at the 41 level also failed. Finally, buying force pushed the market above the 42 level. Will this lead to a bigger rally, or is this just a dead cat bounce?
Sunday, July 28, 2024
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26 July: Soybean oil resumed selling on better weather forecasts, with selling pressure becoming aggressive after 10 AM, causing the market to plunge by 5%. FCPO experienced a late breakdown below the opening low signal. What is the impact on FCPO for Monday open?