Analysis for chosen Softs
Murali Sarma of Trade Guidance, LLC - - Fri Oct 19, 6:38AM CDT

Happy Friday - here is your analysis on chosen Softs that we currently cover.

Intraday price analysis for chosen Softs

1.Sugar # 11 [SB]:We will likely tag 13.91 today on this move higher from below 13.68 area today and run into resistance exactly at that target of 13.91. If we have sufficient buying momentum expect 13.98. A rejection at 13.91 will have us going to 13.75, and below there is 13.68.

2.Coffee 'C' [KC]:Coffee appears to be range bound today between 122.53 and 121.3. A downside acceleration intraday below 121.37 will suggest we try 120.80 and below there has decent support at 119.84. For the upside we have initial resistance at 122.53 and blowing past that will have us revisiting 123.11 and we will find nice resistance at 124.06.

3.Cotton # 2 [CT]:Is encountering some selling here so holding 77.78 becomes important intraday. If we fail to hold that level expect 77.48, and below there is good support at 76.99. If we encounter buying at the 77.78 area expect us to try 78.36 today which may limit our upside for the day. If bulls persist today, we may visit 78.66.

4.Cocoa [CC]:2179 is being tested as we post this. Continued buying is bullish and we may limit our gains intraday at 2212 and retrace. Inability of the bulls to push this higher will have us revisit 2160 intraday and below there is excellent support at 2120.

5.Orange Juice [OJ]:Remains range bound between 143.23 and 141.67 and we do not expect this to be any more exciting today. If we push higher, expect 144.02 and above there on momentum buying will find good resistance at 145.30. Sellers will find good support at the lower range or 141.67 and on momentum selling, expect 140.88 initially and below that area has excellent support at 139.60

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