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Softs Commentaries

Showing Posts 1 - 14 out of 14 found.

Livestock Market Bears in Control

LIVESTOCK: October live cattle closed down $0.37 at 147.87 Wednesday. Prices closed near mid-range in quieter trading. Bears still have the slight overall near-term technical advantage. Prices are in a four-week-old downtrend on the daily bar chart, but now just barely. Bulls’ next upside price objective is to push and close prices above solid resistance at last week’s high of $149.37. The...

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October ICE Sugar Futures: Trading Idea August 27, 2014

October ICE Sugar Futures a Selling Opportunity on More Price Weakness  See on the daily bar chart for October ICE sugar futures that prices are in a steep downtrend and this week hit a contract low. The bears are in solid near-term technical command to suggest still more downside price pressure to come. A move below chart support at this week’s low of 15.30 cents would become a selling...

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Energy Market Bulls Continue to Struggle

ENERGIES: October Nymex crude oil closed up $0.51 at $93.86 today. Prices closed near mid-range on short covering in a bear market. Crude oil bears still have the firm near-term technical advantage. Prices are in a steep two-month-old downtrend on the daily bar chart. The next near-term upside price breakout objective for the crude oil bulls is producing a close above solid chart resistance...

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October Lean Hogs Futures: Trading Idea August 25, 2014

October Lean Hog Futures a Selling Opportunity on Fresh Price Weakness  See on the daily bar chart for October lean hog futures that prices are in a steep downtrend and the bears have the solid technical advantage. A move below chart support at $92.00 would become a selling opportunity. The downside price objective would be $80.00, or below. Technical resistance, for which to place a...

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December Cotton Futures: Trading Idea August 22, 2014

December cotton futures a buying opportunity on more price strength.   See on the daily bar chart for December cotton futures that prices have made a good rebound from the recent contract low and on Thursday hit a four-week high. Prices are now in a fledgling uptrend. A close above chart resistance at 67.00 cents would give the bulls better upside technical momentum and it would also become...

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Livestock Market Bears in Control

LIVESTOCK: October live cattle closed down $1.70 at 145.52 Wednesday. Prices closed near mid-range and hit a 2.5-month low today. Bears have the near-term technical advantage as today’s price action produced a downside “breakout” from a bear flag pattern on the daily bar chart. Bulls’ next upside price objective is to push and close prices above solid resistance at $150.00. The next downside...

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Trading Tactics: Use Resting Stops To Trigger Entries Into Sugar

Trading Tactics: Use Resting Stops To Trigger Entries Into Sugar

The October sugar futures contract has gone nowhere but down since becoming the lead month near the end of June. Some of this has been due to seasonality and some of it has to do with the considerable resistance that has built up between $.19-.20 per pound area. However, both of these may be currently working in favor of the long side. Seasonal Factors At Play The typical October sugar...

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Soft Commodity Markets a Mixed Bag at Present

SOFTS: October sugar closed down 11 points at 15.91 cents today. Prices closed near mid-range and hit a 6.5-month low today. Sugar bears have the solid overall near-term technical advantage as a seven-week-old downtrend is in place on the daily bar chart. Bulls' next upside price breakout objective is to push and close prices above solid technical resistance at 16.75 cents. Bears' next...

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December ICE Coffee Futures: Trading Idea August 6, 2014

December ICE Coffee Futures a “Swing Trade” Selling Opportunity on Price Weakness  See on the daily bar chart for December ICE coffee futures that prices spiked higher last week but then backed well down from last week’s high, which suggests the bulls quickly became exhausted at the higher price levels. See, too, that the past few months that price uptrends have been halted around last...

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December Cotton Futures: Trading Idea July 28, 2014

Consider Buying a Call Option on ICE December Cotton Futures See on the daily bar chart for ICE December cotton futures that prices have been beaten down hard recently but are now well oversold. See the RSI reading of 15.76. Any RSI reading below 30.00 suggests a market is overdone on the downside. Also, there is key longer-term technical support at the 66.00-cent level in cotton futures...

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December Cotton Futures: Trading Idea July 16, 2014

Consider Buying a Call Option on December Cotton Futures  See on the daily bar chart for December ICE cotton futures that prices are in a steep downtrend. However, the market is oversold, technically, as evidenced by a reading of 21.73 from the Relative Strength Index. Any RSI reading below 30.00 suggests a market is overdone on the downside. Remember, too, that most major bull and bear...

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September Coffee Futures: Trading Idea July 14, 2014

September Coffee Futures a Selling Opportunity on More Price Weakness See on the daily bar chart for September ICE coffee futures that prices are in a solid downtrend and last week hit a 4.5-month low. The bears have the firm near-term technical advantage to suggest prices will continue to trade sideways to lower in the near term. A move below last week’s low of $1.6250 would become a...

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Softs Markets Bears Gain Technical Strength

SOFTS: October sugar closed down 26 points at 17.42 cents today. Prices closed nearer the session low and hit a 4.5-month low today. Sugar bears have the near-term technical advantage. Bulls' next upside price breakout objective is to push and close prices above solid technical resistance at 18.00 cents. Bears' next downside price breakout objective is to push and close prices below solid...

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August Lean Hog Futures: Trading Idea July 8, 2014

Consider Buying a Put Option on August Lean Hog Futures See on the daily bar chart August lean hog futures that price action last week scored a bearish “key reversal” down. That was an early technical clue that a market top is in place. This is also a very mature bull market run in hogs and my bias is that the rally will peter out sooner rather than later. Consider buying a put option on...

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