ZL1! We think weekly basis US Soybean oil price will be going for correction. Malaysian palm oil price will be going down for next few weeks. Next support level is 4350 Ringgit to 4100 Ringgit.
ZL1! path of least resistance has been to the downside, do we see a gap fill and find support? or does the market hunt out speculative stops below the gap? only time will tell
ZL1! US Soybean oil price will be going toward $60 within few weeks. Good support from $50.50 to $51.50 level. Malaysian Palm oil in good demand. Palm oil price also going higher toward 4550 Ringgit.
ZL1! US Soybean Oil price is ready for higher move. It will be going toward $52 to $55 level within few weeks. Malaysian palm oil price also going higher for upcoming good demand from China & India.
ZL1! Palm oil price will be going toward 3500 Ringgit after break 3765 Ringgit support. US soybean oil price also down trend. possible Price will come near $44.