Soybean Oil Weekly Forecast

Weekly Forecast (November 28 – December 2, 2022)

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 72,12, which will be followed by moving up to resistance level 73,74 and if it keeps on moving up above that level, we may expect the market to reach resistance level 75,94.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 72,12, which will be followed by reaching support level 69,18 – 67,73.

Monthly Forecast, November 2022

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 73.75, which will be followed by moving up to resistance level 79.29.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 73.75, which will be followed by reaching support level 68.16 and if it keeps on moving down below that level, we may expect the market to reach support level 60.75.

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