Cocoa And Sugar
Each evening we focus on the most interesting aspects for the upcoming trading day. The comments are based on observations of the nightly updates of the Futures and Market Bias pages. They are provided for educational purposes only and are not intended to be direct trading advice. Also, keep in mind that these remarks are made up to 12 hours in advance of the markets opening. Therefore, overnight events may alter the outcome of these observations.
There are only two markets that look interesting to me tonight.
March Cocoa [CCH0>CCH0], mentioned for last Wednesday and on the Pullbacks off lows list, closed poorly (on Wednesday) and looks poised to challenge its old lows. Look for a shorting opportunity here.
Futures in fast moves down often only consolidate a few days before heading lower. With that said, March Sugar [SBH0>SBH0], on the Implosion 5 List, looks poised to resume its sharp downtrend.
Best of luck with your trading on Monday!
Dave Landry
PS-Reminder: Protective stops on every trade!