Tocom RSS3 6th Month Forward Swing Maturity Chart as at 2008
November 19
The
blue
line
oscillates
between 0
and 100.
Readings
of 20
and below
signal
over-sold
condition;
80
and above
over-bought
condition.
The
pink
bars show
how far
the
closing
prices had
deviated above
the mean,
i.e.
showing
the extent
of bullishness.
The yellow
bars how
far
closings
had
deviated below
the mean,
i.e. the
extent of
bearishness.
18-11-2008: Contrarian bet for short term rebound to 225
better than one month ago!
17-10-2008: Down-swing looks ripe for technical rebound to 225 probable from current 169 region
08-10-2008: While mkt is extremely oversold, any rally
would be mild given the bearish momentum
29-09-2008: RSI may retreat below 20, until then downward
pressure persists
19-09-2008: Further downside movement before we see
oversold situation
03-09-2008: September is peak Thai production month; more
downside risks and potential expected
29-8-2008: 324 tested today which level could provide some
resistance to the current rally
15-8-2008: Oversold condition; any rally to 315 to relieve
situation not surprising
07-8-2008: In the next few days, if contract oversells to
310, then a 15-20 jpy/kg rally may follow
27-6-2008: New high price not confirmed by RSI which stays
at 60% region - expect correction to follow.
