So the question is: can I simply go long on a weaker grain like corn, if there is a long setup on the most bullish grain (soybean oil) or should I wait for a close above the 18 MA for similar instruments?
In the end all grains move up, is there a benefit to also trade the "Weaker" grains?
I will analyze CORN next we to see if its profitable to get in later...
Soybean Oil and Palm oil Spread.
Soybean oil and palm oil dominate the marketplace and account for roughly 62% of the total world production of edible oils. Both are considered "substitute goods" because food processors often switch between the two ingredients as the prices fluctuate. Theoretically this should limit the variability in price spread...
We can see a clear pattern or 5 wave movement to the upside both in daily chart and in the sub wave of wave 5.
What come after 5 ?
Looking for evidence that top is in place and patiently waiting for my short sell setup to join the counter trend movement.
Long and short ZL1!
Activation of the transaction only when the blue zone is fixed/broken.
The author recommends the use of anchoring fixed the blue zone, this variation is less risky.
If there is increased volatility in the market and the price is held for more than 2-3 minutes behind the activation zone after the breakdown, then the activation of the idea...
Several macro drivers from both supply/demand perspective pushing the price up: larger market share of renewables in the energy sector and inflated prices by central bank stimulus all around the world. Dublin, March 02, 2021 (GLOBE NEWSWIRE) : "The global Vegetable Oil Market is anticipated to grow to US$ 299.18 Billion by 2027. It is expected to grow with a CAGR...