Soybean Oil: Will reach the 60,11 level?
|Weekly forecast (December 5 – 10, 2022)
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 69,18, which will be followed by moving up to resistance level 72,69 – 73,74.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 69,18, which will be followed by reaching support level 60,11.
Monthly forecast, December 2022
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 69,18, which will be followed by moving up to resistance level 75,94.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 69,18, which will be followed by reaching support level 60,11 and if it keeps on moving down below that level, we may expect the market to reach support level 54,29.
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