The ICE cocoa futures market this week soared to a record high, as seen on the monthly continuation chart for nearby futures. The cocoa market and this chart illustrate the highly cyclical nature of raw commodity futures markets prices. Don’t be surprised if other commodity markets hit multi-year or record highs during 2024. As a trader, you need to catch those price trends early and then ride them, using a protective trailing stop. My job is to help you identify those early price trends. Stay tuned! Jim Wyckoff