Soybean Oil Weekly Forecast

This/Next Week Forecast (August 22 – 26, 2022)

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 66.11, which will be followed by moving up to resistance level 68.84 – 70.30.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 63.53, which will be followed by moving down to support level 60,20 and if it keeps on moving down below that level, we may expect the market to reach support level 55.50.

previous week forecast

Monthly Forecast, August 2022

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 61,70, which will be followed by reaching resistance level 67,76 and 72,09.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 61,70, which will be followed by moving down to support level 51.

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