My latest bullish signal for the Soybean oil was on 28 May 2016.Since then price of this commodity went up by 1.27%.This week I got a bearish signal for the Soybean oil based on the total number of old long contracts closed(12,845) vs net number of new short contracts opened(8,241) in the last 2 weeks.Moreover I also got a PCC = - 0.96 for this commodity in the last 4 weeks and this means a huge divergence between bullish(falling) vs bearish(rising) sentiment for this commodity.As result I expect price of Soybean oil to drop in the coming days/weeks.Check out my strategy and trackrecord2016 file on my free websites:
No comments:
Post a Comment