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Global Markets Analysis – 07 April 2017

A commentary written by Tony Tong

07.04.2017 周五 美盘豆油昨日晚间阴K线下跌 未能延续前日阳K线走势





• Short-term trend of edible oils remains bumpy, indicating strong conflict between long and short interest.
• Market fundamentals are bearish.
• Technical signals are indecisive.
• Increased acreage, high stockpile of soybean and higher-than-expected out of Malaysia palm oil contribute to bearish sentiment.
• There is still uncertainty on biodiesel policies, demand for edible oils in China and overall climate.
• From technical point of view, a rebound may follow the mid-term overselling.
• Hence, we shall limit our short outlook and prepare for a possible rebound.

• Traders may maintain long positions.
• Aggressive short-term traders may cautious hold long positions.
• Passive traders may stay on the sidelines while closely observing the extent of the decline of US soybean oil.

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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