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Global Markets Analysis – 19 October 2016

A commentary written by Tony Tong

19.10.2016 油脂商品快速冲高之后, 短线出现调整迹象





• US soybean oil underwent a minor correction after soaring, as China and Malaysia edible oil follow.
• However, correction and uncertainty are irregular for different edible oil products.
• Until upward momentum completely recedes, we shall maintain our short-term long outlook, unaffected by this short-term correction.

• Traders may maintain long positions with the 5-day moving average as the cut-loss point on China and Malaysia oil products.
• In the meantime, traders may observe closely the US soybean oil’s upward trend after the short-term correction.
• Traders may consider taking profit on some long positions in a short-term safety measure.

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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