Remko
Short

CBoT soyameal still a short but no margin at the upside

CBOT:ZMZ2016   SOYBEAN MEAL FUTURES - ECBT
10 0 0
Soyameal:
Further sideways move during the week with only exception during Thursday's session when price spiked up and actually penetrated the most recent high at 310.90 which was not what we were looking for. The pull back that followed indicated that is could have been a bull-trap but it could also be that we have to reconsider our bear scenario. A close above the 312 during one of the sessions during the coming week will hit our stop level and will probably be the bode that price wants to trade up to 325/330 from here.
For now our bear bias remains unchanged but there is no more margin to the upside.
Trade closed: stop reached
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