TraderPlanet.com :: Commentaries tagged (cocoa)

Softs Market Commentary

JimWyckoff, TraderPlanet.com — Thu, 09 Feb 2012 12:47:44 +0000

March sugar closed up 8 points at 24.48 cents yesterday. Prices closed near mid-range yesterday and hit a fresh two-week high on more short covering. Sugar bears do still have the slight near-term technical advantage. Sugar bulls' next upside price breakout objective is to push and close prices above solid technical resistance at the January high of 25.21 cents. Bears' next downside price breakout objective is to push and close prices below solid technical support at last week's low of 23.41 ...

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Upbeat Expectations 2/3/12

mbwealth, TraderPlanet.com — Fri, 03 Feb 2012 22:32:17 +0000

A positive jobs number and things heating up in Iran and Crude is back on the move advancing 1.5% today. We may see a bounce but until we see a trade back over $99 I still am thinking prices have more downward pressure. My target in March is a trade closer to $93-94 in the coming weeks.

What is disturbing though is the disparity between the Crude daily chart and the distillates as Crude is on the lower end of the recent trading range while heating oil and RBOB are breaking out to new highs. I...

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Softs Market Commentary

JimWyckoff, TraderPlanet.com — Thu, 02 Feb 2012 12:57:49 +0000

March sugar closed up 2 points at 23.66 cents yesterday. Prices closed nearer the session high but did hit a fresh two-week low early on. Bulls have faded recently and bears have the near-term technical advantage. Sugar bulls' next upside price breakout objective is to push and close prices above solid technical resistance at last week's high of 25.21 cents. Bears' next downside price breakout objective is to push and close prices below solid technical support at 23.52 cents. First resistance...

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If Equities Fall 1/30/12

mbwealth, TraderPlanet.com — Mon, 30 Jan 2012 21:31:36 +0000

Over the next few sessions we will know but we may see some gains given back in equities as minor chart damage is being done. That being said expect higher trade in Treasuries and commodities on a stock retraction.

Crude continues to flirt with $100 unable to pick a direction. The longer this consolidation pattern continues the larger the breakout the tough part is determining what direction will prices breakout. A settlement above $100.50 or below $98 would likely signal the direction but un...

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Taking a Breath 1/25/12

mbwealth, TraderPlanet.com — Wed, 25 Jan 2012 20:46:01 +0000

I misread the recent action thinking we were approaching a turning point but now it appear the markets were just taking a breath and now the underlying moves are back on track....trade accordingly. Crude appears to be finding its footing as further sales are being rejected. With a settlement back above $100 I would become more friendly. On a close above $102 in March I then would be looking for buying opportunities thinking we get a new high...trade accordingly. I say a bottom is in on natura...

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Softs Market Commentary

JimWyckoff, TraderPlanet.com — Wed, 25 Jan 2012 13:00:34 +0000

March sugar closed down 20 points at 24.76 cents yesterday. Prices closed near the session low yesterday and did hit another fresh nine-week high early on. The key "outside markets" were bearish for the sugar market yesterday, as the U.S. dollar index was firmer and crude oil prices were weaker. Bulls still have the slight near-term technical advantage in sugar. Sugar bulls' next upside price breakout objective is to push and close prices above solid technical resistance at 25.50 cents. Bears...

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Turning Point 1/24/12

mbwealth, TraderPlanet.com — Tue, 24 Jan 2012 22:08:15 +0000

Turing point...not today and probably not tomorrow but I would expect the equity market to give back its recent gains in the very near future. What that likely means is money out of stocks and into Treasuries and commodities...just an opinion. Crude remains in no man's land as prices could go either way in my opinion. My bias is leaning to the bullish side but I would prefer to be buyer on breaks. For instance I see solid support in March just under $94/barrel so long entries closer to that l...

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Protected: The Line in the Sand January 23, 2012

mbwealth, TraderPlanet.com — Sun, 22 Jan 2012 17:38:46 +0000

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A Straight Lineâ€¦ 1/19/12

mbwealth, TraderPlanet.com — Thu, 19 Jan 2012 22:15:28 +0000

Nothing included markets move in a straight line...stocks will not move higher in a straight line nor will natural gas move lower...all things must come to an end.

I am still in a holding pattern waiting for direction in Crude oil. We're still experiencing a tug of war in the distillates as RBOB was lower today and heating oil was higher...the reverse of previous sessions.

Natural gas was lower by 7% today making it 21% already in 2012..a rocky start! The reality is I still do not see signs ...

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