Traders' Roundtable

downward trend.

cotton long term downward trend seems to continue. Retail should suffer, with a slowing global economy.

crude oil should fall back as soon as the british sailors are released. Oil in relation to a dollar rally should continue downwards secondary to a slowing US/global economy. These scenarios are painting a picture of:

1) dollar rally.
2) commodity slump.

cocoa tests a upward projected trendline off the peaks three times(the trendline touching at 3 points), the current levels are close to that trendline and it seems to fall back. A break of 1760 would be a bearish sign.

corn seems to like trending down with interspersed spikes and arches back to the downward trendline. It implies that 5.00 will be tested before a fall back to the downward longterm trendline.

GBP on a longterm basis is bullish, but in 2005 when it established 1.72 as the floor it retested 1.72 a year later in 2006 before pushing up and finding support at 1.82 and pushing higher, if this pattern of trading continues it implies that 1.82 will be retested sometime this year. Its almost a fr...

Soybean Oil seems to have a bad habit of breaking the resistance level and then retracing the previous resistance level and going lower before resuming to push up and stay above that initial resistance level broken.

GBP tends to gap and followthrough without a significant retrace, lot of traders have learned to follow this technique on days where this happens. The retraces are minimal.

Traders end up stalking this pair and wait for days like this for easy money.