Interesting charts August 19th 2014
Comment of the Day

August 19 2014

Commentary by Eoin Treacy

Interesting charts August 19th 2014

Eoin Treacy's view

Palm Oil – extended the short-term downtrend to post a new reaction low. While increasingly oversold in the short term, a clear upward dynamic will be required to signal a return to demand dominance and pressure shorts. 

Corn – posted an upside weekly key reversal last week following a steep decline. Additional upside follow through this week or next would improve potential that a reversionary rally back upwards the MA is underway. 

Lumber – greater confidence in the homebuilding sector has contributed to recent strength in the lumber market. The rally two weeks ago broke the 9-month progression of lower rally highs and a sustained move below $325 would now be required to question medium-term recovery potential. 

Brazil - extended its recovery today and a sustained move below the rising trend mean would be required to question medium-term recovery potential. 

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