Friday’s Futures Setups

U.S. jobless claims fell 19,000 to 381,000;
existing home sales in August came in at an annual rate of 6.47 million units,
up 5.5% from July’s pace. War is still a possibility in the Ivory Coast, which
would affect cocoa.

Here are the levels that were posted last night:

Pretty close. For Friday, looks like some support between 994 and 995.

Those last three bars on beans show sellers coming in.

If there really is war in the Ivory Coast, cocoa will go higher.

Please note that while there are strong trends, one bar or a series of bars
forming a setup can sometimes indicate a contra move for the next day. This
contra move may not be long-lasting — maybe only for a day or two. Trading with
the main trend is always the highest probability trade.


Be advised that some futures contracts are prone to gaps.