Intraday price analysis for chosen Softs
1. Sugar # 11 [SB]: Holding 12.66 expect 12.94. If we take out 12.94 in the intraday expect at least 13.09. To the downside, inablity to hold 12.66 has us targeting 12.51 initially and on continued selling expect 12.27.
2. Coffee 'C' [KC]: Coffee is trying to surmount 111.10 and in the overnight price action has scaled past 110.37 the secondary support level. If we are able to hold 111.10, we could be gunning for 112.52 today. Inablilty to hold 111.10 may have us revisiting 110.37 then 109.18.
3. Cotton # 2 [CT]: In today's price action holding above 76.64 has us targeting 77.22 falling below 76.64 will most definitely tag 76.34 and below there has support at 75.85.
4. Cocoa [CC]: We are looking bullish here above 2103. If the intraday 2103 holds, we could see 2122 before the session ends. Below 2103 will want 2089 initially and then 2082 and inability to hold there will have us finding support at 2070.
5. Orange Juice [OJ]: Is losing momentum and is trading below secondary support and has the ability today to take out 141.73. If we hold above 142.56 expect 143.06 and on continued buying expect 144.05.
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