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70.35 bean Oil

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    #1

    70.35 bean Oil

    Resistance for nearby chart at 70.35 was reached this morning.
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    #2
    I found it odd that every other commodity took a pause last week, and bean oil just kept on truckin'

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      #3
      Malaysian Palm Oil futures took out the 2008 high recently

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        #4
        All time high for any month is the Dec 2008 contract.

        Hit 74.00 on Mar 4, 2008.
        July/21 contract hit 72.13 yesterday

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          #5
          I am anything but a chartist, but in my view, if that daily soybean chart doesn't put up another couple of strong legs soon, it bears a disturbing possibility of a head and shoulders top.

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            #6
            July 73.74 this evening

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