The road ahead (9th week)
To my prediction, that the soybean market will be supported by the strong fundamentals, with export demand sustained by limited competition. Moreover, after a big soybean-driven reduction, the low price market will be attractive for speculators again.
According to a French futures dealer, the market is in a bit of a wait-and-see mood, Last week was painful and people are waiting for the Chicago session this afternoon to see if the rise is confirmed
This week, I will use “technical analysis” that Andrew introduced to us to analyse the market, and I will pay more attention to the system. I find if I order a contract, it is possible that the pending contract will not go through the system and CAN be cancelled even after 30mints. I will confirm each order after 30mints (actually I start to do this last week).
I am holding short contract of soybean, I will offset them and I will hold a long position this week.
Technical Analysis is fun to learn and “play” with. Hope you will have fun too, although we don’t need to trade / blog any more. =p btw, I used technical analysis and “predicted” a trend reversal for soybeans too. well, let’s see. =p Have fun!
Yes. but I not really familial with such thing. I can only predict a little bit based on weekly price trend.