Soy Bean Oil Hourly Chart Might Be Weak

Soy Bean Oil Futures has been moving up slowly. Despite the daily chart looking strong, the hourly chart seems weak based on the divergent between the price and MACD. The weakness of Bean Oil Futures could give us an opportunity to short CPO.

Bean Oil Daily Chart Updates

It looks like Bean Oil Future is in consolidation, breaking either way would establish a new trend ; ups or downs. Let's watch and see.

Bean Oil Futures Could Rebound - Hammer

There is also high chance that Bean Oil Futures could rebound for now; The beautiful black hammer at the bottom of the chart says it all. We shall wait and see.

Bean Oil Future Potential Rebound

Bean Oil Futures have been down just like CPO from $58 to $52. With the price hitting the support (refer to the chart) and the formation of hammer followed by bullish harami. There is very high chance Bean Oil futures will rebound.