Demand has been established at the blue diagonal for decades. Everytime price hit that level of equilibrium we've seen a massive reversal. We're once again at the level of extreme reversal.
Better get on this...
Better get on this...
Comment:
An intermediate bottom in cocoa may have been confirmed with today's close. I went long the Cocoa/sugar spread on Thursday. I would NOT have gone long on cocoa if it weren't for the spread. Just one of the reasons why I love spread opportunities. Sometimes they bring more clarity, which provides us with better trade structures.
Comment:
Possibilities show possible correction into neck and mini trend line. Ideally we see a correction and a break of the trendline to get a cheaper big.
Comment:
cheaper bid*
Comment:
Dream correction is coming. Let's hope the spread goes below 110 and settles between 100 - 107
Comment:
up 39% on spread thus far
Trade closed: target reached
