Welcome and thank you for visiting!

The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
please read my full Disclaimer at this link.


...If the dots don't connect, gather more dots until they do...




* Wed. March 21 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference
* Fri. March 30 ~ U.S. markets closed for Good Friday Holiday
* Fri. April 6 @ 8:30 am ET ~ Employment Data
* Wed. April 11 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. April 11 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Wed. April 18 @ 2:00 pm ET ~ Beige Book Report
* Wed. May 2 @ 2:00 pm ET ~ FOMC Announcement
*** Click here for link to Economic Calendars for all upcoming events

Thursday, June 06, 2013

Chocolate "Fix" Takes on a Whole New Meaning...

This (Canadian) news headline appeared today (you can read the article at this link):

Volume in the July Cocoa futures contract spiked in today's continued rally from the past few days up to a 50% Fibonacci retracement level, as shown on the Daily chart below.

At the moment, price is still subject to a bearish influence of a moving average "Death Cross" formation, as well as a confluence of this Fib level with a downtrend line and the upper Bollinger Band. A break and hold above this confluence resistance, followed by a rally with conviction may, ultimately, reverse this formation to a bullish "Golden Cross."