ATHENA MARKET BUZZ

1530 27092023 Athena Market Buzz Wednesday  Good Afternoon, Happy Anant Chaturdashi to every one.  I'll be traveling starting today, so I won't be able to provide regular market updates until Monday. Our views remain unchanged. In the MDEX market, it is advisable to consider buying between RM 3550-3450 and selling long positions at RM 3850-3950. For those interested in shorting, it's recommended to wait until RM 4250 is reached. Sunflower oil continues to be an attractive option, with anything below USD 900 for spot purchases and anything below USD 850 for forward contracts considered a good ownership opportunity. CBOT may experience a slight decline, potentially drifting towards 56.50 or lower with strong support at 54.50, but the basis may adjust, causing a slight decrease in flat prices. CBOT soybean prices have crossed the 13.00 mark again due to a surprising deterioration in crop conditions, declining from 52% to 50%. The USDA has also forecasted lower crop numbers, an...

  1530 26092023 Athena Market Buzz Tuesday  Good Afternoon, Mdex opened unchanged and after trading to days high of Rm 3721 we settled at RM 3718 +2 which at the time of writing this report is trading at RM 3690 -26. Mdex is in consolidation phase and technically more down side can be expected. We are safe to assume that levels will find strong resistance to go past RM 3800 but we will not suggest our readers to make shorts in current market however we propose our readers to make longs once we go in price range of RM 3550-3450. Most of the correction in soft oil , stronger dollar , slowing economy and Chinese issues are almost priced and the pull towards RM 3250 will find a strong resistance at RM 3450. For longs we will suggest to exit when or If we cross RM 3850-4000 and to make fresh shorts RM 4250-4450 is safe. Once again offers to India are mostly unchanged with CPO at USD 865 and ROL at 850. Demand from Indian market is not picking as ROL is offered at Chennai arou...