After a minor consolidation phase in which the price of cocoa stagnated just below the pink trend line, the next step of the magenta wave (5) was completed: a clear breakout above this line. We now expect a larger upward expansion until the magenta five-wave move and thus the superior white wave (B) is completed. After this top, the price should go down again -...
The coffee price has been moving downward since February last year within the framework of the superior wave Y in turquoise. In our primary expectation, however, this descent should not last much longer. In the orange target zone between USX 144.40 and USX 136.40, it should come to the low, followed by subsequent rises. Only falling below the zone would put a...
Hello ladies and gentlemen, ICEUS:CT1! shows a strong bearish configuration.
Hello ladies and gentlemen, according to my graphical analysis, ICEUS:SB1! show a strong bearish configuration.
- Sugar id front of a great resistance which fights to break it. for the moment it is in a bearish phase if it doesnt break the level of (11) with power - For the moment there is a very high probability that the market will return to test the level of (9.60) . which is going to be an important support. - And if ever it breack it there is an 80%...
I believe that the downward push we are seeing is due to profit taking. It is unusual to see the SP futures not in harmony with ICE #USD index. Volume still points to 111 .10 I believe as long as 109.50 is not broken the trend will continue up.
Seems like no frost in Brazil. It was a busy weeks last week and throughout the weekend with fears a frost could hit coffee areas. None has been confirmed and worst fears did not play out. Once all of this is digested I expect some downside opportunities as the market goes back into trading technicals rather than emotions. Quite oversold and we saw sell...
After reaching 50, as expected some sideways action. sold the 52c around 1.05 around 2 weeks ago. I am neutral, because this looks like a correction of the prevailing uptrend as indicated in the dark red trendchannel. Downside support are the blue trend line at around 48.20 and the 20 day MA or middle BBand. Further on the downside we are looking at the...
Pro bullish: - Slight bullish divergence on RSI and Stochastik - market running into support at lower end of trend channel - lower Bband at lows - Spreads steady Pro neutral: - nothing clear cut yet in terms of buy signal This is a good risk reward IMHO
Starting to run into some support. Seasonally we are approaching lows as well in November. For me time to start looking into a long position IMHO. We are approaching the lower end of the trendchannel (valid since early this year), however there is an ups-sloping trendline that formed since the previous lows in September. I am also expecting this to be much of...
Took longer to develop as the market decided to test the upper level of the 3 year trend channel In the meantime, we had several bearish and bullish engulfing patterns and an up sloping trendline (orange) formed. The previous highs made at 15.50 developed and formed a divergence with RSI and Stochastik. Spreads were stable but collapsed as SB sold of on...
This is a classic flag, FED will rise rates next year but not in 2015. Trading with ranged zone, avoid trended strategy. Be careful with EURO, it could have more easing policy in 2016. Technically point A could be a truncation, equal wave could be truncated. But if 93 is broken DXY will fall to 90 then a nice buying there.
Looking for some downside correction as we reached the upper trend channel IMHO - Ran into resistance without follow through for today. - Overbought on daily chart - At upper BBands on weekly chart NOTE: - There is chatter of weather issues (drought) in Brazil, so I am cautious - Also, 9 day MA crossed 20 day, 50 and 100day MA north, so that is bullish too
Turning neutral and watching closely. I think good entry for e retracement IMHO - RSI & Stochastik with bearish indications and market is very overbought. - bearish engulfing and hanging man (confirmed with bearish engulfing) - spreads have been weak the last three days already indicating a trend change I am neutral with a bearish bias, but need more confirmation IMHO
RSI and Stochastik provided buy signals today, so I am turning from neutral to bullish. Spreads very strong across the board, which supports the signals generated. Strong support around 3029 held On Oct 15th, the NCA will release the updated Cocoa grind statistics. CAUTION: Moving averages are looking down, hence I am cautiously bullish
Turned from bullish to neutral as I got out or rolled most of the position. The late sell of at the end of the day confirmed my thoughts. Future Spreads are still firm, and on a weekly timeframe we still look quite bullish. USDBRL has come off from the highs, but is running into a little support. Prices could advance, but there is too much uncertainty, hence...
Moving from short to neutral as cocoa runs into support and seams to run out of steam. RSI and Stochastik are in oversold areas. Even though we didnt reach the red target line, I am cautious about the short position. Dec/Mar future spreads are firmer today indicating. Yet too early to reverse the position IMHO