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Global Markets Analysis – 24 February 2017

A commentary written by Tony Tong

24.02.2017 周五 “万事俱备 只欠东风” 利空出尽便是利多





• Bearish sentiment on global edible oils is believed to have reached its peak, which may be the bottom of the downtrend.
• From a technical point of view, edible oils have little room to fall further, which would mean that it is a good opportunity to go long.
• Regardless of a possible rebound or retracement, the chance of an uptrend remains.
• Protective buying appears to have emerged in China and Malaysia markets.

• Passive traders may enter a small number of long positions, joining aggressive traders in yesterday’s action, in anticipation of bullish signal.

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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