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Dec.- Jan. Softs Comments

ByJudy Crawford
Published 10/19/2011, 09:50 AM
Updated 07/09/2023, 06:31 AM
OJ
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MAR
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DEC COTTON:

  It triggered a buy on Friday but did not follow through.  Stops were reached on Monday.  In spite of that, it continues to sit at 100.00.  Just watching.  Closed 100.18, down .18.
Position:  Long 102.68 (10.14).  Exit 100.01 (10.17).  Loss $1390 (+comm/fees).

JAN ORANGE JUICE:  Switching to January.  It sold off under the 100 and 150 day ma on the daily chart early today but then rallied back to close above them.  It now has the base under it on the daily chart that could produce a rally to the old high area of around 185.00 - assuming it can hold above those two averages.  Just watching.  Closed 168.70, up 1.90.

DEC COFFEE:  The monthly chart is triggering a preliminary sell signal this month.  In fact, it would need one huge rally to negate it.  It did sell off to the 20 day ma and is attempting to hold there on the monthly chart.  That suggests there could be more to the current rally - possibly.  The daily chart has been consolidating but it could go either way.  It formed an inside day today.  Just watching.  Closed 231.50, down 2.50.

DEC COCOA:  I tried to buy it last Friday.  It sold off instead and made a new low on the daily chart today at 25.23.  That negated the key reversal bottom and then some.  I see nothing to do.  Closed 25.71, down .51.

MAR SUGAR:  I am waiting to short sugar and so far it has been struggling at the 28.00 resistance for three days.  Long term it continues to hold at the 20 day ma on the monthly chart.  At the same time on the weekly chart, rallies have been stopped by the 20 day ma!  Too much conflict going on there.  Watching closely to short.  Closed 27.85, up 6.

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