It’s important for traders of all trading timeframes to examine longer-term weekly and monthly charts for the markets in which they are interested. Chart price history shows that trending moves tend to see prices gravitate toward recent historical highs or lows. See on the weekly continuation chart for nearby cocoa futures that prices are in a longer-term uptrend and have just this week hit a 1.5-year high. The bulls are in firm command to suggest more price gains in the near term, and even longer term. By the way, if you would like some further education on trading markets to become more successful, I have an e-book called “Sharpening Your Trading Skills” that you can have, for free. Send me an email at jim@jimwyckoff.com and I’ll email the book to you straight away. Nothing to fill out and no strings attached. That’s the way I roll in this industry. Stay tuned!–Jim