Ok speculators and possibly oilseed users,
I have talked about this momentum ridden long bean oil short soy-meal spread and yesterday it hit a few of my macro trendlines at which interesting stuff happens immediately on impact. How else do you quantify a bid? I like buying this spread but disclaimer is only at my levels to eliminate slippage.
OSZ-10MIN04LEVELS3535 37.12 was an OLS#1, print high 37.30-ish
Here we look at a short term 10 min-ish chart and when we hit the line, a large macro fund engages in my opinion which is hard to dismiss on this very good bounce. Over the powder blue line as soon as we hit those other 3 areas on this chart at bottom. This feels real to me and the timing could prove explosive if this does what I can see happening. Consider this live now. 35.90-ish on this strong reversal push. Clean them out to downside, then double back higher.
Here I give you a longer view. As you see we are on a good break. I hear a fundamental case maybe also. THIS IS VOLATILE.
Nitty gritty of inter-day possible change, resume bull trend.
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