The market conditions are likely to remain quite nervous over the next few days and near-term weakness in the TOCOM market cannot be ruled out.
There is no market-specific impetus for fresh long positions to be established at present. Sentiment has been weakened by weakness across commodities over the past few days and the dollar is holding up well.
Given the way the market has been trading over the past few days, we are very likely to see prices testing another 25-year high again this week.