Bearish Indication of SOYANEAN OIL.
As the big players are in profit-taking mode after the uptrend, the price continues to fall.
Besides, the demand side of soyabean is at uncertain as one of the leading consumers, china is dealing with covid-19 pandemic again.
This a fresh Demand Level and never used before. There is a high probability that price will turn back and start of a bullish movement.
Note: This week has lots of high impact news related to this pair.
Looking for Short in the AUDJPY pair.
Reason for selling is:
1) down channel
Confirmation Tools:
1) MA direction is down or similar to down trend
2) MACD is below 0 level