Soybean Oil Futures: Bearish Retest Signals Further Downside

• The price is now failing to maintain above the short-term moving average, hinting at weak bullish follow-through.
  
• ZLN2025 is showing signs of exhaustion after an uptrend, with bearish pressure increasing. If bulls fail to reclaim $49.00, the next leg could favor a continuation downward toward $46 and lower.
  
• Price broke below the short-term moving average (20 EMA) and is now testing it as resistance.
  
• This type of retest often precedes continuation of the down move.