Soybean Oil - 50 years chart, what do you see?
Let's look at Fibonacci levels. The attached chart, on a logarithmic scale, spans over 50 years - that's huge! The market just bounced from the 61.8% level, confirming that the bulls are still alive. Let's switch to a lower timeframe in the next post to see if anything interesting is happening there.
Note
If you are interested in a deeper analysis on a monthly timeframe, please switch to
- SOYO - WISDOMTREE COMMODITY SECURITIES LTD 0% SECURED UNDATED NTS (SOYBEAN OIL) USD
and check out my Ideas there. Alternatively, you can simply go to my profile
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.