July bean oil has been in a short term rise for the last four trade sessions after what might turn out to be a significant swing low of 30.08. Based on that and the swing high of March 2nd, 50% retracement would be 31.86 and 61.8% would be 32.28.

IF tomorrow(Tuesday) the price trades higher than today's high of 31.57 one might look to see the next swing high at around 31.68(IF the short term up trend continues).

There is chart resistance at 31.84 and weak what I call 'candlestick' resistance at 32.10(based on March 5th's candlestick and that resistance might just be an intraday resistance that's why I call it weak).

I only mention all of this in case one thinks the short term rise is a good place to look for an entry on the short side. I have no bias or point of view or position one way or the other. I just found the chart interesting.

So to reiterate the places the price may be attracted to(before a decline, IF a decline) are 31.68. 31.84 - .86ish 32.10 and 32.28.

Prosperous trades. KJB22