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Global Markets Analysis – 28 October 2016

A commentary written by Tony Tong

28.10.2016 周五 美盘豆油3连阴下挫整理





• Over the past week of trading, we have maintained our short-term long position outlook and recommended that retail traders reduce their long positions when prices were high.
• At this point, US soybean oil is beginning to show signs of downward correction which we should be cautious of, despite not seeing the same happening in China and Malaysia markets.

• Short-term traders, who have gradually reduced long positions as recommended, may close-out all remaining long positions.
• Medium and long-term traders may close-out a portion of their long positions at high prices, to mitigate the adverse impact of the short-term downward correction.

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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