Futures

A contractual agreement, generally made on the trading floor of a futures exchange, to buy or sell a particular commodity or financial instrument at a pre-determined price in the future. Futures contracts detail the quality and quantity of the underlying asset; they are standardized to facilitate trading on a futures exchange. Some futures contracts may call for physical delivery of the asset, while others are settled in cash.

** Source from: www.investopedia.com

Thursday, October 22, 2009

Crude and soy losing momentum

FCPO opened higher which crossed the psychological resistance @ 2200 and rised to a day high at 2225 due to crude oil breaking the $80 dollar per barrel resistance.

But later in the evening, both crude and soy oil losses momentum and currently crude is -1.35 down residing at marginal 80.01

My opinion: Go for short and place stop loss at 2225


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