Tuesday, November 24, 2009

CBOT soyoil Daily:


Market tested the upside resistance at USc40.77 (high since 3/6/2009) but not manage to stay firm and resulted a long upper shadow candle printed. This has weaken a little the market upside move. Thus, more strength is still needed for a more sustainable upward move. As for now, we continue to look for the immediate upside resistance at USc40.77-41.15. Immediate downside support remains at USc39.00.