Soybean Oil (Dec) Code : ZLZO
Rising stochastics at overbought levels warrant some caution for bulls. The market's short-term trend is positive on the close above the 9-day moving average. The daily closing price reversal down is a negative indicator for prices. It is a slightly negative indicator that the close was under the swing pivot.
The near-term upside target is at 42.36. The next area of resistance is around 42.02 and 42.36, while 1st support hits today at 41.48 and below there at 41.27.HAPPY TRADING
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