Soybean Oil Weekly Forecast

This/Next Week Forecast (August 1 – 5, 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 55,49 – 54,18.

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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