$Soybean Oil - main 2212(ZLmain)$futures - time to buy the dip? Starting to get into historical bullish seasonality zone, COT Large speculator data following price up which is what we want to see. Current POV - Bullish.
$Soybean Oil - Dec 2022(ZL2212)$ - most traded front contract 139k open interest, SEP'22 61k open interest.
[See attached charts]
Key price zones - Congestion zone = 60.50 to 66. More bullish > 66.11, bearish < 61.70
Targets & Risk Management....
Bullish upsides: T1: 72, T2: 85, T3: 95
Bearish Downsides: T1 60 T2 53 T3: 44
Stops: Bullish 62, Bearish 67
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