Future Trend Analysis Report
Prepared for you on Friday, January 27, 2023.
SOYBEAN OIL Dec 2023 (CBOT:ZL.Z23)
Sidelines Mode (-55) - ZL.Z23 is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid ZL.Z23?
MarketClub looks at technical strength and momentum to determine if the timing is right for ZL.Z23.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for ZL.Z23
The long-term trend has been UP since Nov 1st, 2022 at 62.66
The intermediate-term trend has been DOWN since Jan 24th, 2023 at 59.35
The short-term trend has been UP since Jan 27th, 2023 at 59.50
Smart Scan Analysis for ZL.Z23
Based on our trend formula, ZL.Z23 is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).