Expected Direction of Edible Oil Complex

Good Evening,

Last night, Bean Oil did not fill the gap up and finally started giving up the gains, I was reviewing the BOc2 chart a short while ago and found that gap was again tested but Bean Oil has failed to clear it off.

Even On smaller term time frames, quite a few setups are taking place. I am only interested to see if RSO, shows a good weakness, chances are higher owing to its kind of Positively skewed vomo value, if that happens we may see some strong rally downwards, on each of these Edible Oils.

On FCPOc3, today we broke through the divergences and made high at 3956, around the same time there were structural damages on lower time frames that pulled the market down, but anyways, i never write about those time frames due to mailing restrictions etc.

Now, On FCPOc3 i am keenly interested to see if FCPOc3 breaks below 3800 that should induce some more pain for Bulls and prices come in sound grip of bears. For now, I am presenting a Negative Reversal formation between 3971 and 3930, if this is broken to the up side i will be proven wrong, until it breaks i would prefer to expect lower price for FCPOc3.

For other details, let's connect on Friday.

Sincerely

Primant Kumar, CMT

Note:- 1. Above information is only for Educational Purposes only, These are not a trade recommendation.