Wilmar’s long term chart seems to have found some support between its 23.6% & 38.2% fib extension. Assuming the solar maximum is next year as predicted, soft commodities like soybean & wheat should peak around then as well, which is margin positive for integrated crushers like Wilmar in an anemic global economy. Others such as ADM & Bunge should benefit from the upcoming soft commodity bear market as well.

Further reading: Aurora Borealis & global surface temperature study, Sun headed into hibernation. Ani-thesis: Global warming myths. Regardless of how food prices are moved, let the charts do the talking.

Mid term resistance/support is 3.50/3.00.



Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s