Global Commodity Technical Analysis Report - One Commodity is Trading Near Resistance Level – Soybean Oil

Soybean Oil July Future (CBOT: BON26)

As per the previous recommendation on ‘SOYBEAN OIL’ on 27 April 2026, a ‘Buy’ rating was given on the Commodity at USc 71.71, and noted below are the details of the recommendation summary provided in the previous report:

Technical Analysis summary as on 27 April 2026

Soybean Oil Daily Chart as on 01 May 2026:

Source: REFINITIV; Analysis: Kalkine Group

Considering the target levels is yet to achieved, but Soybean Oil currently trading near a resistance level, and it is prudent to book profits at the current levels. Hence, a ‘Exit’ rating has been provided on the Commodity at the Current Market Price of USc 74.75 as on May 01, 2026 (Chicago, IL, USA 00:00 AM (GMT-5).

Note 1: Past performance is neither an indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is as on May 01, 2026 (Chicago, IL, USA 00:00 AM (GMT-5). The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the Commodity can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Technical Indicators Defined: -

Support: A level at which the Commodity prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.
Resistance: A level at which the Commodity prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest.
Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the Commodity prices.