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Global Markets Analysis – 06 December 2016

A commentary written by Tony Tong

06.12.2016 周二“多事之秋”散户朋友场外观望为宜



• The recent referendum in Italy has minimal effect on the global edible oil markets, with US soybean oil January 2017 futures contract hovering at high prices, although the uptrend is seeing signs of easing.
• China soybean oil and palm oil are still trading at a high but tight range, of which we should maintain high awareness.
• Experience tells us that prices are expected to fall after a prolonged uptrend.
• Malaysia palm olein is likely to follow the rise of US crude oil and palm oil, and China edible oils in the short-term.

• Traders who have close-out positions and taken profit may remain uncommitted and temporarily observe the market from the sidelines, at least until the market calms down.
• Traders may wait for technical signals on US soybean oil to emerge before taking a position.
• Securing profits and avoiding risk are the priority.

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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