Important resistance line being approached by Soybean Oil AUGUST 2019. This price has been tested numerous time in the last 5 days

Soybean Oil AUGUST 2019 is moving towards the resistance line of a Channel Up which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If Soybean Oil AUGUST 2019 continues in its current trajectory, we can expect it to reach 28.8500 within the next 16 hours.