• Phillip Streible

Breakfast Report - Cocoa Sugar Coffee OJ

“Actionable Trading Ideas that help you stay ahead of the markets"


Cocoa (July)


Technicals: The trend following system has gone to the sideline with new trade trigger points. Sell Trigger a close under 2180 and a buy trigger above 2413

Settle: 2362

OTE Unrealized Profit/Loss: $0.00 (Short closed out on April 6th $4080 gain)

Bias: Neutral

Previous Session Bias: Neutral


Resistance: 2402 ****(April 7th swing high), ***2497 (200 DMA)

(EXPMA = Exponential Moving Average)

Pivot: 2387**** Parabolic stop and reversal

Support: 2215 (Low from April 15th)***, 2202 (Low move on the chart)

ADX: 16.34

(ADX= Measures the strength of the current trend)

200 DMA: 2497


Fundamental Comments: Better than expected quarterly grindings out of Asia and Europe are beginning to help support the market. While coronavirus restrictions remain in place in North America and Europe well into May. It is dry in West Africa in some of the essential growing regions so be on the lookout for lower production levels out of the next crop cycle.


Sugar (July)

Technicals: The Trend Trading system established a short on March 2nd at 13.81 and the buy stop is at 11.02 Settle:10.01 OTE Unrealized Profit/Loss: $4256.00 Bias:Bearish/Neutral Previous Session Bias:Bearish/Neutral

Resistance: 10.60 (April 9th high)*** , 11.50****(high from March 25th) (EXPMA = Exponential Moving Average) Pivot: 10.65**** Parabolic stop and reversal Support: 9.77*** (downside move "washout achieved") ****9.00 (long term support) 200 DMA: 12.85

Fundamentals: The washout in outside markets like crude oil and gasoline have put pressure on ethanol demand. It appears that Brazil's Gov't will most likely come in and try and support that industry which should lead to some support. Really this market needs a positive risk sentiment in order to draft higher. We have been looking at March 2021 options as a counter trend reversal play.

Coffee (July)


Technicals: The Trend Trading system is on the sidelines with sell triggers at 100.85 and buy triggers at 127.95

Settle:112.40

OTE Unrealized Profit/Loss: $0.00

Bias: Neutral

Previous Session Bias: Neutral


Resistance: 122.60 (April 9th high)***, 129.05****

(EXPMA = Exponential Moving Average)

Pivot: 123.94*** Parabolic stop and reversal

Support: 110.00 (Next key Level)**** 103.05 ( March 17th low)

200 DMA: 114.24 ( New Resistance?)


Fundamentals: A potential labor shortage could lead to bottlenecks in supply which could lead to additional pressure on the market. ICE exchange stocks have posted multiyear lows and could mean higher prices at the stores. The market is looking for any sign of outside market relief before attempting a rally.


If your going to play this market, it is somewhat choppy and (for example) the Average True Range has been as high as 6.85. This means that on the average day the market should move 6.85 X $375 = $2568.75 so be careful.

Orange Juice (July)


Technicals: The Trend Trading system established a Long on March 20th at 105.60 and the sell stop is at 103.37

Settle:105.60

OTE Unrealized Profit/Loss: $322.50

Bias: Bullish/Neutral

Previous Session Bias: Bullish/Neutral


Resistance: 110.40 ( the high from April 13th),**121.25(Recent Swing High)***

(EXPMA = Exponential Moving Average)

Pivot:110.61**** Parabolic stop and reversal

Support: 109.00*** (200 DMA) ****100.00 (Critical support level)


Good luck and good trading, Phillip Streible Chief Market Strategist 312-858-7303 Phil@Bluelinefutures.com

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If you have any questions about markets, trading, or opening an account please let us know! You can email us at info@BlueLineFutures.com or call 312-278-0500 BlueLineFutures.com Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

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