20.01.2019 (Inside Futures ) - Soybean Oil Futures---Soybean oil futures in the March contract are trading higher for the 2nd consecutive trading session up another 21 points at 28.98 right near a 4 week high.

At the current time I'm not involved in this commodity, but I've written about it on multiple occasions as I do think prices have bottomed out & if you look at the daily chart there is a head-and-shoulders bottom chart pattern as technically speaking that means higher prices would be ahead.

The chart structure is starting to improve on a daily basis as the volatility still remains relatively low as rumors about China and the United States nearing some type of agreement would definitely be bullish soybean oil as China is the largest importer of U.S beans in the world.

Soybean oil is now trading above its 20 and 100 day moving average as I will be looking at a possible bullish position in next week's trade so keep a close eye on this market as historically speaking soybean oil is cheap as we have been in a bearish trend ever since 2012.

We will start to enter spring planting in the next 3 months as the volatility should certainly expand to the upside as we will plant approximately 8 million less soybean acres than in 2018 which could spur a bullish trend.

TREND: ----MIXED

CHART STRUCTURE: SOLID

VOLATILITY---LOW