July Soybean Oil Futures a Selling Opportunity on More Price Weakness
See on the daily bar chart for the July soybean oil futures that prices are in a pause mode, or sideways price movement, after the recent selling pressure. This pause is not bullish. A move below chart support at 41.00 cents would provide the bears with fresh downside technical momentum and it would also become a selling opportunity. The downside price objective would be 38.50 cents, or below. Technical resistance, for which to place a protective buy stop just above, is located at 42.00 cents.
