СME Futures Analysis 12.06.2022

​​Hello Traders!

🔻 I see a very peculiar picture in Platinum (PL). As always: stops — rejection — involvement — rejection. And here we have 2 targets: 1020 — short term target on the 15M chart and 1060 target on the daily chart. We see how OI decrease during the last down wave. Sellers and buyers close their positions. But from the previous COT report Funds even doubled their longs from 3K to almost 7K longs, and I hope they will continue to do this at this discount. (See)

🔻Next, I expect a short continuation in Soybeans (ZS). 1770 was a beautiful sell entry point under the stopping HFT volumes level. But according to the strong effort and the low result of the delta, it was necessary to ensure who will win in this battle and somehow join the winner. Honestly, I could not do it, but it was worth it. The peak of growth in volatility and purchases of call options has already been passed and traders will continue to close their hedges. (See) 

 🔻 I opened my short position in Wheat (ZW) futures and still hope that it also will break down the 1020 support structure on a daily chart. It is not pleasant to sit sideways, and between the battle of two technical structures. I thought about exiting, but my hopes for achieving the target are still strong :) (See) 

 


🔻 And what about the Canadian dollar (6C)? I see that some big traders closed their shorts in options or their hedges by the strike 0,78. And now the price stopped in the zone near a few supports like a commercial level and 2 other old delta levels. First correction target I see to the 0.79 Dec 21 volume level with option payouts level at the same time. The second one 0.7950 price level is Sep 21 volume level. (See) 

So, we have such potential directions for the next week:

Platinum (PL) long

Soybeans (ZS) short

Wheat (ZW) short

Canadian dollar (6C) long

📹 See more information in video ⬇️
 

Sincerely, Taras Sviatun