Looks like coffee's making a double bottom.Looks like a double bottom is being completed.
Bullish reversal anyone?
SNIK trade ideas
LONG CHOCOLATECocoa Long - Risk Reward 2:20
Cocoa is trading below the long term weekly trend, with strong selling pressure forcing it below the expected RSI and BBands for its current bull cycle.
Trade with tight stop on bottom of cyclical trend reversal.
Entry price range: 1.9 - 2.0
Exit price range: 2.26 - 2.35
Triangle breakout for WTI Crude #OOTTA technical breakout although fundamentals could change its direction.
Nat Gas clone levelsThis is a longer range chart of Nat Gas with it's clear descending wedge structure, which is overlaid with clone levels. The reference range for the clones is the spike at the start of the winter season 2018.
The safest long trade - if there is such a thing with NGas at a time when Permian Gas is beng flared off at a criminal rate - would be to hit it as low as possible close to the wedge bottom boundary. Timing is all important with the Widow Maker - so pay it lots of respect and never get cocky with it.
Otherwise watch from the sidelines and enter a safer trade instead.
Cotton LongCotton prices are severely depressed at the moment.
Opportunity for profit 6% Risk to 20% Reward - 1:3 RR profile.
Entry Price and accumulation around 1.62
Stop Loss 1.56
Initial Take Profit January 2020, expect small seasonal retrace.
Final Take Profit June 2020 at 2.0
Fundamentals:
Drought, pest attack hit yields in key producing regions resulting in 9 year low on production output
Imports 80% increase
Exports have plunged to 10-year lows
www.reuters.com
Corn and Natural GasCorn and natural gas show an interesting relationship, Corn has winter Lows with spring Highs with some swings between but roughly correlate to a yearly cycle.
Natural Gas is at all time lows, with price levels at pre 1995 prices at points in the recent past. Meanwhile the quantity and quality of dollars has risen. gas also follows a rough cycle of summer lows and winter highs which presents an interesting trading opportunity. Long Natural Gas in mid summer during peak withdrawal Into mid winter, with an exchange into corn going long into the summer, selling back into Gas or Gold.
In addition recent extreme weather events and forecast for a cooler winter increases demand for both Corn and Gas
Silver has broken from a 12 month double bottom12 month double bottom formed
Next stop 17 (but technical target after double bottom is 17.6)
Not a farmer but corn could be ready to pick here. MMHVW - so apparently the adverse flooding and wet weather hitting certain parts of USA at the moment will have a negative impact on corn as the lands over waterlogged and therefore nothing is grow at the moment. Could see a break out from this descending wedge soon.
ETFS Corn is designed to enable investors to gain an exposure to a total return investment in corn by tracking the Bloomberg Corn Subindex (the "Index") and providing a collateral yield. The product reflects the performance of the Index such that, for example, if the Index were to rise in value by 5% over a period, the product would increase in value by 5% over that same period (before fees, expenses and adjustments) and if the Index were to fall in value by 5% over a period, the product would fall in value by 5% over that same period (before fees, expenses and adjustments). The product is an exchange traded product ("ETP"). Securities in this ETP are structured as debt securities and not as shares (equity). They are traded on exchange just like shares in a company. The ETP is backed by swaps with Citigroup Global Markets Limited and Merrill Lynch International. The payment obligations of the swap counterparties to the Issuer are protected by collateral held in a segregated account at an independent custodian, The Bank of New York Mellon.
Again - this should not be taken as financial advice.
Soybeans Beans hit the lowest point since financial crisis.
Buy Soybeans Futures between 13 USD and 13.50 USD.
Channel Formation -> Short, Then LongWe bounced from the top channel border four times before. There was a small false breakout from the bottom line, which later lead to all-green rally period all the way to the upper green line. This was supported by beneficial weather period. However, the strength of the rally seems to fade. I am in short expecting us to go down for some time, but I will definitely close above the bottom green line. There is also a blue 150 daily moving average. I think it might act as support. It did work before as a resistance.
ETFS Coffee before the 82% rise... I believe that based on my analysis, Coffee will start to rise. The rise begins with a rise from the W1 ATR axis. After leaving the ATR axis, the exchange rate can build a rising wave structure on the wave axis (green line). The size and size of the wave structure may be similar to the size of the wave crossing the wave axis previously. The rising target price is 1.2306 usd.
Sugar: Positive outlook if stabilizing over key 6.6 area6.46 - 2015 low and coincidentally was the breaking of the downward trend which last between Nov 17- Oct 18
6.62 Where i would eventually like to enter.. with the 50 d/Ma turned up and moving higher
* has been a floor in Feb 18
* and resistance Jun 18 + Nov 18 + Jan 19
Stops can be placed at 6.4 - 5.9
Target 7.0 sell 25% stop 6.62
Target 8.0 sell 25% stop 7.0
Eventual Target 11.0 depending on price action
