Bean Oil Leaking?
Each evening we focus on the most interesting
aspects for the upcoming trading day. The comments are based on observations of
the nightly updates of the Futures and Market Bias pages. They are provided for
educational purposes only and are not intended to be direct trading advice.
Also, keep in mind that these remarks are made up to 12 hours in advance of the
market’s opening. Therefore, overnight events may alter the outcome of these
observations.
Due to extenuating circumstances, David
Landry will be unable to write this column this evening. Dave should return on
Monday, November 27. Tonight’s piece is being written by TradersWire’s Duke
Heberlein.
December soybean oil
(
BOZ0 |
Quote |
Chart |
News |
PowerRating) has broken down below the area of its most
recent support. Look for potential downside continuation in this contract.
The Canadian dollar
(
CDZ0 |
Quote |
Chart |
News |
PowerRating), mentioned Wednesday night,
continues to pull back off its recent low. Keep on looking for a shorting
opportunity if the stock trades under the prior low.
Orange juice
(
OJF1 |
Quote |
Chart |
News |
PowerRating) appears to be breaking out of a bullish
triangle pattern, watch for follow-through to the upside.
Finally, feeder cattle
(
FCF1 |
Quote |
Chart |
News |
PowerRating) has formed a bullish outside
day in a pullback. However, be sure to wait for follow-through as the contract
had a down close in Friday’s abbreviated session.
P.S. Protective stops on every trade!