Breakfast Report (week of 8/16)

Research Posts Breakfast Report

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Cocoa

Technicals (December)

Cocoa futures surged on Tuesday, with Momentum studies rising from oversold territory. The 8-day EMA bounced higher helping push upward momentum. The market will need to breach 3471 in order to rekindle the bullish momentum, while a breakthrough 3350 will open the door to additional selling pressure. 

Bias: Neutral

Previous Session Bias: Neutral

Resistance: 3471*, 3499-3511, 3625

Pivot: 3400

Support: 3350, 3300-3250*

Coffee
Technicals (December)

Coffee futures continue to break down and need to rally through 163.58 to switch from a Bearish to a Neutral trend. Overhead resistance at the 200- DMA near 170.00 will also provide headwinds. Risk-off vibes in U.S. Equities continue to weigh in on the market. With the recent multi-month selloff, getting behind any substantial change in bias is tough. 

Bias: Neutral/Bearish

Previous Session

Bias: Neutral/Bearish

Resistance: 163.58*, 165.34-166.00, 170.50

Pivot: 160.00

Support: 150.00***

Sugar

Technicals (October)

Sugar futures continue to trade in a Neutral to Bearish trend and will need to close over 24.42 in order to eliminate the Bearish trend. Overhead resistance sits at 25.00. Keep an eye on any strength in Crude Oil after falling back from its recent highs.

Bias: Neutral/Bearish

Previous Session Bias: Neutral/Bearish

Resistance: 24.42***, 24.60****, 25.00***

Pivot: 23.50

Support: 22.50***

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Futures trading involves substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. 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.

Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.

With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third party application. Blue Line Futures employees use only firm authorized email addresses and phone numbers. If you are contacted by any person and want to confirm identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500

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