Mon, 11/16/2020 – 12:48
The U.S. markets started the week off with a positive tone, surging higher on election results and a potential Covid-19 vaccine breakthrough from Pfizer. As indices moved higher, most commodities followed suit. This rally was short-lived due to the growing number of Covid-19 cases in the U.S. and worldwide. Europe has implemented lockdowns; the U.S. is rolling back restrictions in certain areas due to the rise in positive tests – these changes will add volatility to all markets in the short-term. Until a vaccine is approved and available to the public, anticipate this pattern for months to come.
Cocoa is already dealing with demand issues; with lockdowns in Europe and the closing of indoor dining in parts of the U.S., cocoa futures could see more downside. Demand for chocolate is critical this time of year – Hershey and Barry Callebaut may be seeing the 4th quarter a little more positive than anticipated, which can help cocoa prices rise heading into 2021.
Weather patterns in West Africa could be causing concerns for production in that region. If this holds, support could be seen on the chart at these current levels.
March Daily Chart
If you are interested in discussing the soft commodities contact firstname.lastname@example.org.
🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.
As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.