Breakfast Report - Cocoa Sugar Coffee OJ

Softs Technical Report

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

Cocoa (July)

Technicals: The trend following system has gone to the sidelines with new trade trigger points.

Sell Trigger a close under 2180 and a buy trigger above 2413

Settle: 2342

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

Bias: Neutral

Previous Session Bias: Neutral

Resistance: 2387 (April 23rd High) - (2402 ****(April 7th swing high), ***2486 (200 EXPMA)

(EXPMA = Exponential Moving Average)

Pivot: 2383**** Parabolic stop and reversal

Support: 2309 (Low from April 24th)***, 2202 (Low move on the chart)

ADX: 13.15

(ADX= Measures the strength of the current trend)

200 EXPMA: 2486

Fundamental Comments: Market is looking for any case for a breakout to the upside and is holding up better than expected with Mondelez showing weaker than expected demand even with shelter in place restrictions. I guess the hoarders were more after toilet paper than Oreo cookies?

Until we see restrictions lifted in Europe we might not see the demand side pick up. Most of the support has been from the supply side where global production has decreased in West Africa and Ivory Coast.

Sugar (July)

Technicals: The Trend Trading system established a short on March 2nd at 13.81 and the buy stop is at 10.47


OTE Unrealized Profit/Loss: $4804.80


Previous Session Bias:Bearish/Neutral

Resistance: 10.00 (Psychological)** 10.55 (April 20th high)*** , 11.50****(high from March 25th)

(EXPMA = Exponential Moving Average)

Pivot: 10.21**** Parabolic stop and reversal

Support: 9.00*** (Long term support) ****8.75 (long term support)

200 EXPMA: 12.67

Fundamentals: Finally a bounce from the oversold levels, I believe this was mainly from the bounce seen in Crude Oil as well as the Brazilian Real. We need additional support from U.S. Equities in order to see follow through covering to improve the bearish supply outlook.

Coffee (July)

Technicals: The Trend Trading system is on the sidelines

Sell triggers at 103.00 and buy triggers at 123.19


OTE Unrealized Profit/Loss: $0.00

Bias: Neutral

Previous Session Bias: Neutral

Resistance: 115.72 (200 EXPMA)***, 122.60 (April 9th high)****

(EXPMA = Exponential Moving Average)

Pivot: 119.73*** Parabolic stop and reversal

Support: 105.90 (April 27th low)**** 103.05 ( March 17th low)

200 EXPMA: 115.72

Fundamentals: Real weak bounce and doesn't feel like a turning point, harvest has began in Southern growing regions which might be slow due to labor shortages.

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 104.79


OTE Unrealized Profit/Loss: $1275.00

Bias: Bullish/Neutral

Previous Session Bias: Bullish/Neutral

Resistance: 121.00 (Recent Swing High)*** (Only resistance at the moment)

(EXPMA = Exponential Moving Average)

Pivot:105.00**** Parabolic stop and reversal

Support: 110.20*** (200 EXPMA) ****104.60 (Critical support level)

200 EXPMA: 110.20

Technical Spotlight - The market has formed a wedge and looking to breakout. We could see a move back to the highs if an upside breakout occurs. Real nice textbook pattern!

Good luck and good trading, Phillip Streible Chief Market Strategist 312-858-7303 Follow us on Twitter:@BlueLineFutures Follow us on Facebook: Blue Line Futures Facebook page Subscribe to our YouTube channel: Blue Line Futures YouTube channel

If you have any questions about markets, trading, or opening an account please let us know! You can email us at or call 312-278-0500 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.