10/7/2011

In Focus: Soft Commodities

Corn Rather messy technical picture on daily chart. From trend following

perspective EMA20&50 system is bearish. Standard technical analysis: possible inverted head and shoulder and breakout of falling wedge pattern. Blear break of resistance area 670 will push short to cover here as we have gap open all the way to 695. Bullish above 670 for 695. Today is USDA report and everything is possible. Supply is a issue here and may push prices back down. Seasonals are still bullish for another month or so. Overall messy technical, seasonals and macro picture here.

TREND ROOM RESEARCH AND TRADING Ltd. Sofia, Bulgaria http://trendroom.wordpress.com e-mail: trendroom@gmail.com, mobile: +359 887 932 839 May 10, 2013

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TREND ROOM RESEARCH AND TRADING Ltd. Sofia, Bulgaria http://trendroom.wordpress.com e-mail: trendroom@gmail.com, mobile: +359 887 932 839 May 10, 2013

10/7/2011

Wheat

Wheat prices follow exactly the seasonal pattern as shown bellow. Wheat turns bullish from the beginning of July so watch for breakouts this summer could be a nice winner this soft commodity. Oscilators are supporting higher prices at moment. MACD is already positive on daily chart, a bit a counter trend here but given the bearish seasonals in play we prefer to stay sideline for a while.

TREND ROOM RESEARCH AND TRADING Ltd. Sofia, Bulgaria http://trendroom.wordpress.com e-mail: trendroom@gmail.com, mobile: +359 887 932 839 May 10, 2013

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Soybeans

Similar technical picture as corn and wheat, despite bullish seasonals Soybeans has tough time lately pushed down by increased supply. Technicals are improving but caution is needed here as sideways market more likely for next couple of months.

TREND ROOM RESEARCH AND TRADING Ltd. Sofia, Bulgaria http://trendroom.wordpress.com e-mail: trendroom@gmail.com, mobile: +359 887 932 839 May 10, 2013

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Have a great day ahead.

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TREND ROOM RESEARCH AND TRADING Ltd. Sofia, Bulgaria http://trendroom.wordpress.com e-mail: trendroom@gmail.com, mobile: +359 887 932 839 May 10, 2013