Beanoil:
Price keeps following our preferred route that we have put on the chart about a month ago and there is little to add to that. We have drawn a descending price channel in which price seem to be moving to the downside. Our targets remains unchanged, trails keep being trailed down along with price and traders with a short position enjoy the ride.
We will start looking at a possible reconsideration if and when price moves outside its channel on the upside and a break of the 32.50 level to the upside will invalidate our bear case.
Price keeps following our preferred route that we have put on the chart about a month ago and there is little to add to that. We have drawn a descending price channel in which price seem to be moving to the downside. Our targets remains unchanged, trails keep being trailed down along with price and traders with a short position enjoy the ride.
We will start looking at a possible reconsideration if and when price moves outside its channel on the upside and a break of the 32.50 level to the upside will invalidate our bear case.