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Global Markets Analysis – 04 August 2017

A commentary written by Tony Tong




马来西亚棕榈油局将于下周公布发布马棕榈油7月份的产量以及出口量 库存量详细数据。对马盘毛棕榈油基准10月来说,3浪反弹上行之后的回落整理仍延续中,虽然本周跌幅仅仅跌倒下方20天均线位置,但下挫整理态势仍延续中,我们下周仍保持短空思维对待。


• Downtrend of global edible oils continues, as a downward correction is in progress.
• Trading is light in edible oil markets going into the weekend.
• Although the market is supported by long interest, the downward correction is unlikely to be affected.
• Our short-term short outlook remains.

• Traders may continue holding or initiate short positions.
• Retail traders may seek opportunities next week to take profit on short positions.

This post is contributed by OPF Guest Blogger, Tony Tong.

Tong used to be a capital market service rep licensed by China Futures Association. He became a professional independent trader later on. He has more than 10 years of personal experience trading in commodity futures market and is adept at cross-market analysis to identify trading opportunities. He uses fundamental analysis to filter out the best investment products and technical analysis to determine entry and exit points and consider his trading style as moderately conservative while at the same, is also very good at medium-term position trading based on technical charts.

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DISCLAIMER: This post is written for general information only. The author, publisher and/or any third party involved in the distribution of this work assume no legal responsibilities and shall have no liability whatsoever for any direct or consequential losses, costs or expenses arising from the use of the information contained herein.


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