Cocoa

Technicals (March)

50 DMA = 3344

200 DMA = 3909

Trend Reversal Point = 4102

Cocoa futures flipped to a bullish trend on October 17 at 3669. Only a close below 4102 will return the market to a neutral trend. The market has been relentless to the bears; it would be wise to wait for a clear signal or weigh in proper risk management if you are counter-trend trading in this market. 

Bias: Bullish/Neutral

Previous Session Bias: Bullish/Neutral

Resistance: 4250-4300***

Pivot: 4102

Support: 3909

Coffee

Technicals (March)

50 DMA = 166.89

200 DMA = 168.09

Trend Reversal Point = 177.04

Coffee futures flipped to a Bullish Trend on October 19. Only a close below 177.04 returns the market to a Neutral trend. Traders can see the breakout of the daily pennant formation for confirmation that this bull market remains healthy. Keep an eye on 180.00 and 177.04 as your risk management levels. 

Bias: Bullish/Neutral

Previous Session Bias: Bullish/Neutral

Resistance: 190.00**

Pivot: 177.04**

Support: 168.10**,165.33**, 162.67**, 160.40***

Sugar

Technicals (March)

50 DMA = 26.53

200 DMA = 24.67

Bear trade trigger = 26.04

Has the washout finally been completed in Sugar? Sugar futures slipped back into a bearish trend on November 30 at 26.04. Only a close above 26.29 will shift traders back to a neutral trend. We will have to wait for stochastic to rise from oversold territory for confirmation that a bottom is in place. 

Bias: Bearish/ Neutral

Previous Session Bias: Bearish/Neutral

Resistance: 26.53(50 DMA)**,27.18**28.00**, 29.96**

Pivot: 24.67

Support: 23.00-22.50** Pocket Support

Cotton

Technicals (March)

50 DMA = 83.89

200 DMA = 83.13

Bull Trade Trigger = 82.83

Bear Trade Trigger = 79.43

After the December 7th limit move, cotton futures returned to a Neutral trend. Only a close above 82.83 or below 79.43 indicates the next trend. 

Bias: Neutral

Previous Session Bias: Neutral

Resistance: 83.37**, 88.24**, 89.00-90.00***

Pivot: 82.83

Support: 79.43**, 77.50-75.00 Pocket Support

Phillip Streible, Chief Market Strategist

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