Soybean Oil Technical Analysis
The chart is key to this analysis.
(ZLZ25)
There are two methods we use at ONE44 to find support and resistance in the markets.
The first are major Gann squares, these are the yellow horizontal lines on the chart.
The second is Fibonacci retracements.
December Soybean Oil has held key Fibonacci retracements on every setback since this rally started on 8/16/24.
There were two setbacks that held 78.6% retracements on 12/18/24 and 3/13/25, when following the ONE44 78.6% rule we know this is where a lot of bull markets start. The next two setbacks held 38.2% retracements on 4/9/25 and 6/3/25, holding this level shows the market has a trend. The setback on 6/26/25 held 23.6% a very strong sign and was stopped on the high by the 56.93 major Gann square.
The current low is on a 23.6% retracement again at 52.90.
In the update below we have the swing point and what to look for above and below based on the two methods of analysis.
December
The setback this week is just short of 23.6% back to the 8/16/24 low at 52.90 and this will be the key level for next week.
Use 52.90 as the swing point for the week.
Above it, the short term target is 78.6% back to the 7/30/25 high at 56.40. The long term target is 61.8% on the continuation chart at 63.60. Before then there are two major Gann squares to look for resistance and the use as the swing point when closed above at 59.75 and 62.50.
Below it, the short term target area is the 50.49 major Gann square and 38.2% back to the contract low at 50.20. The longer term target is 61.8% of the same move at 45.75.
ONE44 Analytics where the analysis is concise and to the point
Our goal is to not only give you actionable information, but to help you understand why we think this is happening based on pure price analysis with Fibonacci retracements, that we believe are the underlying structure of all markets and Gann squares.
If you like this type of analysis and trade the Grain/Livestock futures you can become a Premium Member.
You can also follow us on YouTube for more examples of how to use the Fibonacci retracements with the ONE44 rules and guidelines.
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