My latest bullish signal for the soybean oil was on 9 July 2016.Since then price of the soybean oil rose by 5.27%.This week I got a bearish signal for this commodity based on the total number of old long contracts closed(20,399) vs net number of new short contracts opened(2,252) in the last 3 weeks.Moreover,in the last 3 weeks there was a Pearson correlation coefficient(PCC) = - 0.75 for shorts vs. longs and this means a strong enough negative correlation between shorts(getting stronger and stronger) and longs(getting weaker and weaker).Therefore I expect price of the soybean oil to drop in the coming week(s).Check out my trackrecord2016 performance file and strategy on my free websites:
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