Soybean Oil (Globex)
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Intraday Commodity Futures Price Chart: Sept. 2018

Soybean Oil (Globex) (CBOT)

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Trade Soybean Oil (Globex) now with:

Market data delayed 10 minutes as per exchange requirements.




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Contract Specifications:ZL,CBOT
Trading Unit: 60,000 lbs
Tick Size: 1/100 cent ($0.0001)/lb ($6/contract)
Quoted Units: US $ per pound
Initial Margin: $1,485   Maint Margin: $1,100
Contract Months: Jan, Mar, May, Jul, Aug, Sep, Oct, Dec,
First Notice Day: Last business day of month preceding contract month.
Last Trading Day: The business day prior to the 15th calendar day of the contract month.
Trading Hours: Electronic: 5:00 p.m. - 2:00 p.m. Central Time
Trading in expiring contracts closes at noon on the last trading day.
Daily Limit: 2 cents per pound ($1,200/contract), none for spot month

Analysis

Mon 8/13/18

Bollinger Bands Indicator:

Conventional Interpretation: The Bollinger Bands are indicating an oversold condition. An oversold reading occurs when the close is nearer to the bottom band than the top band.

Additional Analysis: The market is in oversold territory. And, the market just signaled a 9 bar bullish key reversal adding to the chance for a rise here.

Mov Avg 3 lines Indicator:

Note: In evaluating the short term, plot1 represents the fast moving average, and plot2 is the slow moving average. For the longer term analysis, plot2 is the fast moving average and plot3 is the slow moving average

Conventional Interpretation - Short Term: The market is bearish because the fast moving average is below the slow moving average.

Additional Analysis - Short Term: The market is EXTREMELY BEARISH. Everything in this indicator is pointing to lower prices: the fast average is below the slow average; the fast average is on a downward slope from the previous bar; the slow average is on a downward slope from the previous bar; and price is below the fast average and the slow average.

Conventional Interpretation - Long Term: The market is bullish because the fast moving average is above the slow moving average.

Additional Analysis - Long Term: Recently the market has been extremely bullish, however currently the market has lost a some of its bullishness due to the following: the fast moving average slope is down from the previous bar, price is below the fast moving average, price is below the slow moving average. Its possible that we may see a market pullback here. if so, the pullback might turn out to be a good buying opportunity.

Mov Avg-Exponential Indicator:

Conventional Interpretation: Price is below the moving average so the trend is down.

Additional Analysis: Market trend is DOWN.

Stochastic - Fast Indicator:

Conventional Interpretation: The SlowK line crossed above the SlowD line; this indicates a buy signal.

Additional Analysis: The long term trend is DOWN. The short term trend looks a little bottomy. A possible short term up move may occur. A good downward move is possible without SlowK being oversold. However, an upmove in SlowK for this bar is a little concerning short term.

Stochastic - Slow Indicator:

Conventional Interpretation: The stochastic is bearish because the SlowK line is below the SlowD line.

Additional Analysis: The long term trend is DOWN. A good downward move is possible without SlowK being oversold. However, an upmove in SlowK for this bar is a little concerning short term.

Swing Index Indicator:

Conventional Interpretation: The swing index has crossed zero, identifying this bar as a short term pivot point.

Additional Analysis: No additional interpretation.

Volatility Indicator: The volatility trend, based on a 9 bar moving average, has just switched to up.

Volume Indicator:

Conventional Interpretation: No indications for volume.

Additional Analysis: The long term market trend, based on a 45 bar moving average, is DOWN. The short term market trend, based on a 5 bar moving average, is DOWN. A bullish key reversal off a 5 bar new low here suggests an upmove.

RSI Indicator:

Conventional Interpretation: RSI is in neutral territory. (RSI is at 45.82). This indicator issues buy signals when the RSI line dips below the bottom line into the oversold zone; a sell signal is generated when the RSI rises above the top line into the overbought zone.

Additional Analysis: RSI is somewhat oversold (RSI is at 45.82), suggesting a possible rally. Supporting this outlook, the bullish key reversal off a 9 bar new low here suggests an upturn in the market.

ADX Indicator:

Conventional Interpretation: ADX measures the strength of the prevailing trend. A rising ADX indicates a strong underlying trend while a falling ADX suggests a weakening trend which is subject to reversal. Currently the ADX is rising.

Additional Analysis: The long term trend, based on a 45 bar moving average, is down. ADX has turned up, indicating a strengthening in the current downtrend. Additional market weakness is possible from here.

Comm Channel Index Indicator:

Conventional Interpretation: CCI (-58.74) is in neutral territory. A signal is generated only when the CCI crosses above or below the neutral center region.

Additional Analysis: CCI often misses the early part of a new move because of the large amount of time spent out of the market in the neutral region. Initiating signals when CCI crosses zero, rather than waiting for CCI to cross out of the neutral region can often help overcome this. Given this interpretation, CCI (-58.74) is currently short. The current short position will be reversed when the CCI crosses above zero. The market just signaled a bullish key reversal off a 9 bar new low, suggesting closing any shorts here.

DMI Indicator:

Conventional Interpretation: DMI+ is less than DMI-, indicating a downward trending market. A signal is generated when DMI+ crosses DMI-.

Additional Analysis: DMI is in bearish territory. However, a bullish key reversal off a 9 bar new low here suggests an upside move is possible.

MACD Indicator:

Conventional Interpretation: MACD is in bullish territory, but has not issued a signal here. MACD generates a signal when the FastMA crosses above or below the SlowMA.

Additional Analysis: The long term trend, based on a 45 bar moving average, is DOWN. The short term trend, based on a 9 bar moving average, is DOWN. MACD is in bullish territory. However, the recent downturn in the MacdMA may indicate a short term decline within the next few bars. Still, the market just signaled a bullish key reversal off a 9 bar new low.

Momentum Indicator:

Conventional Interpretation: Momentum (-0.10) is below zero, indicating an oversold market.

Additional Analysis: The long term trend, based on a 45 bar moving average, is DOWN. The short term trend, based on a 9 bar moving average, is DOWN. Momentum is indicating an oversold market and appears to be slowing, suggesting some strength. A modest upturn is possible here. A bullish key reversal off a 9 bar new low here confirms this outlook.

Open Interest Indicator: Open Interest is in a downtrend based on a 9 bar moving average. While this is normal following delivery of nearer term contracts, be cautious. Decreasing open interest indicates lower liquidity.

Rate of change Indicator:

Conventional Interpretation: Rate of Change (-0.35) is below zero, indicating an oversold market.

Additional Analysis: The long term trend, based on a 45 bar moving average, is DOWN. The short term trend, based on a 9 bar moving average, is DOWN. Rate of Change is indicating an oversold market and appears to be slowing, suggesting some strength. A modest upturn is possible here. A bullish key reversal off a 9 bar new low here confirms this outlook.

Important: This commentary is designed solely as a training tool for the understanding of technical analysis of the financial markets. It is not designed to provide any investment or other professional advice.

Lt Crude 67.77
Nat Gas 2.928
Corn 371 6/8
Cotton #2 82.96
Gold 1201.9
Copper 2.7165
Euro 1.14330
USD Index 96.165
SP500 E-mini 2836.50
DJIA E-mini 25309
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