Beans To Resume Uptrend?
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 markets opening. Therefore, overnight events may
alter the outcome of these observations.
November beans (SX1)
reversed after retracing 50% of their prior up leg. This action
suggests that their uptrend remains intact. Look for a buying
opportunity here.
September heating oil (HOU1)
looks poised to resume its downtrend out of a pullback from lows. Look
for a shorting opportunity here.
Volatility Watch
Once again, September coffee (KCU1)
remains a low–volatility
situation. Continue to watch for a larger-than-normal move (in either
direction) as volatility reverts to its mean.
Best
of luck with your trading on Tuesday!
P.S. Reminder: Protective
stops on every trade!
