Asia beats the Street - Agro commodities take off

Published: Tue, 01/05/21

From Around The World - in a few words

Dear ,

A year back the market topped out in Jan 2020 and two years ago so did it in Feb 2018. LTCG and Covid played a role. What lies ahead can only be known in hindsight but seasonal trends can tell us when to take more risk and where, and thus manage risk better. A subject I explore again in this months Long short report. But as far as near term fears of a market collapse are concerned world equity markets especially those in emerging markets and specifically Asian markets like, Korea, Japan, Jakarta, Taiwan, Shanghai to name a few, are showing no signs of holding back.

Another signature of Global liquidity is Bitcoin, it no more behaves like a hedge against deflation but an outcome of it. It topped out along with world equities in 2018 and has taken off this year along with equities as well. Doing so it has become mainstream and can maybe signal major market turns as well in advance. Last nights Bitcoin crash was also associated with the 2-3 % dip in US indices if that tells you anything.

Todays charts take you through some of the above markets

Rohit Srivastava

The Truth About the Markets

KLSE

Asian markets like Malaysia showing they want to continue to higher highs. In this case wave iii of 3 up.

Bitcoin

BTC should have been simple if you just used the Elliott wave calculator [download from the educate yourself section], in the last post I calculated 3=1, then you go to the next ratio at 161.8% of wave 1, and that will give you 44000 for wave 3 extention.

Soy Bean Oil Futures

Soy Bean oil futures are in 1/3 wave advance where wave III may continue till the upper end of its channel closer to 46. After that wave IV pullback near the and eventually wave 5 could be higher since we have already achieved 3=1. The next level would be the 161.8% Fibonacci extension to 56. Prices have already broken out of the 1st channel which we now at the support near 41.

Sugar 11 Continous

Sugar futures book past the high of wave I of 3 and are heading towards the top end of the channel near $ 17.8, the next important level would be where III=I near $ 18.77.

Singapore STI

Singapore remains in a tight trading range in wave 3 on the upside is still due to start and should drive this market much higher

Get Real Time Updates

On Every Market As Trends Unfold

Elliott Wave Updates

Right On your Mobile

Discuss with Rohit Srivastava

Notifications of your Choice

Download Now and Rate 5*

Click for Android

Click for IOS

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Rohit Srivastava
www.indiacharts.com
For accurate market analysis. Technical analysis is a study of past data to assess future probable outcomes. It is our endeavor to discuss high probability set ups for traders and investors in good faith. However this is not a solicitation to buy or sell stocks futures or options or any security. Trading in any financial market should be done with sound knowledge and the help of a qualified investment adviser. Stocks based on the Elliott wave model are based on the Fibonacci fractal of the market and momentum indicators, Levels are based on Fibonacci maths and are only indicative of what the mathematical model throws up. Readers may download the free Elliott Wave Calculator to do it themselves. This is not a research report. We are not investment advisors This is not a recommendation to buy/sell.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Value Wave Stocks discusses the short term trading set ups that we use while taking our trading decisions. Value wave Investments. discusses the long term set ups that we use while taking our investment decisions. We may have holdings in these stocks and are interested in these opinions. This is not the only reason considered while taking our actions. Kindly take the help of a qualified investment advisor before trading. We have active open long and short positions in the futures/options/stock/commodity/currency markets at any point of time. The opinions here are for your education and understanding only of how we identify stocks to trade/invest in. We change our opinion daily and even hourly. Any actions taken by you are at your own understanding and risk. We do not offer personalised advise or research of any kind.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
You have received this mail because you signed up for it on our website and agree to our terms and conditions and privacy policy listed there. If not, you may unsubscribe with the link below at any time.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Please do not reply to this message. email to indiacharts@gmail.com