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Global Markets Analysis – 24 August 2017

A commentary written by Tony Tong




马盘毛棕榈油基准11月,昨日周三盘中曾一度中阴K线下跌,但期价触及到下方5日均线(基准11月),或者回落触及到前高后受到支撑(10月下跌到 2702—2705令吉特,上破之后的回抽确认),周三尾盘期价收高,终盘以十字星阴K线收盘。今天周四盘面上,期价低开高走小阳K线表现,震荡盘升态势保持良好。


• Global edible oils are having small short-term downward correction.
• Besides, the downward correction of Global edible oils have supported as the buying pressure is increasing.
• We continue to hold long outlook as the upward momentum is strengthening.

• Traders may retain long positions and pay close attention to the high on 28 July in US soybean oil December contract month.

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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