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Supply Zone

Cocoa outlook improves as El Niño StrengthensCocoa continued its upward price trajectory, rising 3% over the prior month (22 May to 23 June 2023). The International Cocoa Organization (ICCO) has corrected its forecast for the supply deficit on the cocoa market in the current crop year up from 60,000 tonnes to 142,000 tonnes as production is expected to be lower and grinding higher than previously expected. The production estimate was lowered by 37,000 to 4.98 million tonnes, while the grinding forecast was revised higher by 45,000 to 5.07million tonnes. The revisions are largely due to Ivory Coast (the world’s largest cocoa producing country) where the crop is set to be 30,000 tonnes lower than the prior forecast, but still 79,000 tonnes higher than last year, resulting in a minor downward revision given the considerable year-on-year shortfall in cocoa arrivals at the ports. On the other hand, 35,000 tonnes more cocoa is set to be ground in Ivory Coast than previously predicted by the ICCO. The higher deficit is likely to push global stocks down to 1.63 million tonnes by the end of the crop year, which equates to a good 32% of annual grinding. The last time the stocks-to-grinding ratio was any lower was 38 years ago. The cocoa price remains well supported against this backdrop. El Niño is now once again a source of concern, as prospects for the new season starting September are not bright due to the threat of dryness. In addition, recent heavy rains have been reported in major producing countries, slowing down mid-crop harvest in top supplier Ivory Coast and elevating fears of disease outbreaks. The front end of the cocoa moved more deeply in contango, with the negative roll yield of -2.5% weighing on performance. This material is prepared by WisdomTree and its affiliates and is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. The opinions expressed are as of the date of production and may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and non-proprietary sources. As such, no warranty of accuracy or reliability is given and no responsibility arising in any other way for errors and omissions (including responsibility to any person by reason of negligence) is accepted by WisdomTree, nor any affiliate, nor any of their officers, employees or agents. Reliance upon information in this material is at the sole discretion of the reader. Past performance is not a reliable indicator of future performance.
NYMEX:CJ1!
by aneekaguptaWTE
POSITION TRADING: SHORT AUDUSD. TARGET 0.64000TRADE TYPE: INSTANT ENTRY TRADE DIRECTION: SHORT TIMEFRAME: WEEKLY ENTRY PRICE: 0.67000 STOP LOSS: 0.69000 TAKE PROFIT: 0.64000 RISK TO REWARD: >1:1 ANALYSIS: Price broke the demand zone and is likely looking to aim for upcoming demand zone. stop loss ideally placed above swing high Follow this thread for any future updates regarding this specific trade. CAUTION: Trading outcome is Probability Based and could wipe out your account if risk management and strategy is not followed properly. Cheers
Short
by FX618Analysis
1
CVNA - Trending but volatileCVNA had broken out of its basing formation neckline (a region between $17- $20) on 8 Jun on huge volume. It hit a high of 28.52 on 16 June before pulling back to retest near the neckline @ 20, then rebounded again from there. IT's trend is in earlys stage yet with immediate suport @ 20. However be mindful that lower priced stocks tend to have huge volatility (both up and down). Hence it is important to position size accordingly or chose to exit if it pulls back beyond a certain % and wait for entry again once there are signs that the short term correction is over. Watch out for resistences on the way up around $42 and also around $53+. Also be careful around earning releases. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is (probably the most) important! Take care and Good Luck!
NYSE:CVNA
by Juliac
📉🔥 Bearish Breakout: Ethereum Double Top Spells Trouble! 🐻💥In the exciting world of crypto, a compelling bearish setup has emerged on Ethereum's horizon. The price action has given birth to a double top pattern, indicating a potential trend reversal. Moreover, this ominous formation has taken shape on a formidable supply zone, adding strength to the resistance level. With strategic analysis and careful observation, the optimal entry point for this bearish trade is identified here around 1870. As the bears gain momentum, the first take profit level is set at 1815, followed by a more ambitious target of 1740. Stay tuned as we closely monitor Ethereum's price action, ready to capitalize on this thrilling opportunity. Join the discussion and let's navigate the crypto waters together! 🚀🌕💎 feel free to share your toughts in the comment section. And dont forget to press the like button if you think this insight was helpful🚀
BITSTAMP:ETHUSDShort
by Thomas_Zito
3
MY TRADE TODAY 001BYBIT:DODOUSDT.P Hey guys I'm excited to show you my trades on these coins on a daily basis so to start it off today I'm looking to just simply follow the trend on the 15M timeframe on DODOUSDT I will be getting more into the day trading side of things instead of the swing trading side so I can be more active on here with everyone so sit tight and let me show you guys what i can do over a period of time. SO this is still a limit buy so sit tight and let it grab the bag!
Long
by fusfamily
USDJPY Trade SETUP H4The USDJPY closed at 143.70. Speaking of its resistance, the area around 144.06 will act as a resistance area. If a candle rejects from this level, you can open a sell position with a stop loss of 40 pips and target the support level at 142.20. I hope we can make a good profit from this trade. Disclaimer: The information provided is for educational and informational purposes only and should not be considered financial advice. Always consult with a professional before making any financial decisions.
by ShaaniReal