soybean oil future trade idea – cullen outlook – formation finder
This is a sample of Brian’s email newsletter, The Cullen Outlook.
This is from the Formation Finder portion from June 20th.
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December SOYBEAN OIL:
Turn your attention to the Bean Oil market.
Thursday and Friday rally is being turned away after failing to break through familiar resistance up near 33.75
As we look to take out Thursday’s low, I like the idea of SELLING here, 33.20-ish, and look for a retracement.
- Risk could be just above the 3 spike tops near 34.00 (red arrows)
- For an objective, look to 32.50 and 31.75 levels
1.00 move = $600.00 in the Soybean Oil market
If you prefer to SELL the Soybean market instead, I continue to like that idea as well.
Let’s go…TRADE IT WHEN YOU SEE IT!!!
Take a look at the recent price action in the Soybean Oil market…
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