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There have been many shorting opportunities in Commodities

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If one looks at Commodities then there have been many shorting opportunities. In fact there have been more shorting opportunities than long opportunities recently. 

Nickel for an example looks like an interesting short as the price is below 20, 50 and 100 day moving averages. The chart below will illustrate this nicely.

Nickel_20180909_20_59.png.651fa3fa722a17b4f82cc2df928e990d.png

Nickel is not the only one. There are quite a few at the moment where there is a short trade on. 

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If one looks at London Wheat then it looks like an attractive short. New York Cocoa, Soybean Meal and Chicago Wheat also look as if there are shorting opportunities.

The charts below will show one thing in common they are all trading below the 20, 50 and 100 day moving averages.

 1550218385_LondonWheat_20180914_18_34.png.e1e2f64a4697ea64ee90e14a1169bb31.png

707973630_NewYorkCocoa_20180914_18_34.png.7c4ad4977dd98386046c5e00fe6cb2a3.png

640625392_SoyabeanMeal_20180914_18_34.png.d47a050a77018c33dbe3a7826da42c91.png

755470749_ChicagoWheat_20180914_18_33.png.3694e28bac5070ec7bebb0fd7fdf578d.png

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1 hour ago, TrendFollower said:

If one looks at London Wheat then it looks like an attractive short. New York Cocoa, Soybean Meal and Chicago Wheat also look as if there are shorting opportunities.

The charts below will show one thing in common they are all trading below the 20, 50 and 100 day moving averages.

 1550218385_LondonWheat_20180914_18_34.png.e1e2f64a4697ea64ee90e14a1169bb31.png

707973630_NewYorkCocoa_20180914_18_34.png.7c4ad4977dd98386046c5e00fe6cb2a3.png

640625392_SoyabeanMeal_20180914_18_34.png.d47a050a77018c33dbe3a7826da42c91.png

755470749_ChicagoWheat_20180914_18_33.png.3694e28bac5070ec7bebb0fd7fdf578d.png

I took a quick short in wheat on Monday I believe. I did purely out of fundamental reasons as the USDA reported a larger harvest.

Quickly exited the trade though as I couldn't see anymore down-movement. 

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@zala, you don't need to use quote here as what happens is my posting is in effect showing twice if you scroll up.

If you use the @ sign and type Trendfollower you can refer posts to me which reduces the need to quote. I think the quote option is better on specific words and sentences that you wish to discuss and refer to. Whole postings like this just seem a waste on the thread. 

From a technical perspective, I can only see downward movement unless the trend reverses for both London and Chicago Wheat.

How long did you hold your trade for? When you say you could not see anymore down-movement this can be tested in the coming week. Lets see how both the price of London and Chicago Wheat behave and act. The best way to test any inferences one may elude to and test and assumptions is to merely look at the price action. 

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