$SOYB (continuous contract) is trading at the 948ish support level following a recent divergent low & extreme oversold reading. While there is a decent chance of a rally off this support level, the ideal scenario would be one last thrust down towards the 920ish support level and/or this trendline with one more divergent low before [...]
As mentioned in this morning's market update, various agricultural commodities appear to have some of the most attractive R/R profiles right now, especially for long-side trades. The charts seem to indicate that many of these ag commodities appear to be setting up for attractive swing trades with rallies that could last several months & even [...]
NIB (Cocoa ETN) was a recent long trade that reversed after hitting the 2nd price target, going on to make another potential divergent low. The price action over the last few days appears that NIB may have bottomed last Thursday. See $COCOA daily & NIB 60-minute charts for additional technical levels & developments to watch [...]
A couple of points to address on the agricultural commodities. Regarding the recent official trades in the ag commodity sector, both NIB & WEAT have exceeded their max. suggested stops & will be moved to the Completed Trades categories. WEAT (Wheat ETN) was recent added back as an new long swing trade after the previous [...]
As expected, NIB (Cocoa ETN) continued right on through T1 in the wake of yesterday's impulsive bull flag pattern breakout, with NIB gapping up today to hit T2 for a relatively quick 7% profit. The move following the breakout of a bull flag continuation pattern is often as impulsive as the move leading up to [...]
NIB (Cocoa ETN) has hit the first target for a relatively quick 4.6% gain & appears likely to be headed to T2 very soon. As expected, NIB has taken out the 25.62-25.72 resistance zone with an impulsive move following today's gap & breakout above the 60-minute bull flag continuation pattern. This opens the door for [...]
The following notes & charts are an update to the NIB (Cocoa ETN) Active Trade Idea. Please login or sign-up for your free 3-week trial to view.