Remko
Short

CBoT soyameal worth a short play

CBOT:ZMZ2016   SOYBEAN MEAL FUTURES - ECBT
8 0 3
Soyameal:
The pattern and chart of this price shows quite some resemblance to that of the soybeans             price with a far from perfect 'bear-flag-pattern' and a still preferred part to the downside. We keep our focus unchanged to the downside and have trailed our critical resistance level down to the 350/355 zone where. if broken to the upside, we will reconsider our bias. We could see a possible swing up from here during the coming week but our target remains unchanged 290/300 which is some 10% lower than current values.
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