This is the Weekly Summary Email of the Trade Spotlight advisory service for the week ending on Friday, July 24, 2020.
Short the December 2020 Soybean Oil at 30.17 (7/24/20). Market settled at 30.37. Marked-to-market loss of $120.
Buy stop for Soybean Oil contract on 31.17, above the recent highs (7/20/20) and the 50% Fibonacci Retracement level, GTC. (Risk: $600, plus including commission and fees)
Buy limit for the Soybean Oil contract on 28.58, a potential support level near the 50-day Moving Average and lower trend line, GTC. (Reward: $954, minus including commission and fees)
Stopped out of the long August 2020 Live Cattle from 98.400 (7/02/20) at 101.740 (7/20/20) for a profit of $1,340.
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