A lot of our focus in the Commodity space has been around Gold/Silver and Base Metals, and rightfully so as those have been trending well, but there are now several interesting setups in the Agriculture space.
In this post, we’re exploring some emerging opportunities amongst the less widely-followed Commodities.
First, let’s take a look at Rapeseed Mustard, which is a great example of how quickly these assets can move once they get going. Not only does this highlight the profit potential, but also the importance of risk management and respecting stops when things head in the wrong direction.
Click on chart to enlarge view.
We were actually of the view that Rapeseed Mustard was likely to resolve lower so we did not have a trade recommendation open. Instead, it rocketed higher and left us in the dust.
Can’t catch them all, but we can use it as information and see that it’s another commodity that’s resolving higher recently…not lower. As a result, you’ll see that most of our new ideas are on the long side and in the early stages of their move…or have yet to confirm.
Here’s Crude Palm Oil reconfirming its long-term uptrend following a brief failed breakdown below long-term support/resistance at 620. Also notice how momentum did not get oversold during this correction, reiterating that buyers are still in control longer-term. As long as prices are above 620, any weakness toward that level can be bought with an upside target near 787.
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