Originally published by AxiTrader
COCOA - The strong downtrend remains intact and we will likely see a test of the significant support level at $2025 soon. If that level breaks, Cocoa will likely extend losses to the next notable support level at $1850 fairly quickly.
COCOA - Monthly Chart - 30.01.2017
COFFEE has run out of momentum above $155 and currently testing support around $150. The short-term technical outlook is still mildly bullish, but $146.80 support needs to hold. A break below would signal a retest of the late December low at $132.80. To the topside, keep an eye on resistance at $156.90, followed by $164.25.
COFFEE - Daily Chart - 30.01.2017
COPPER is still consolidating after the strong rally in late October/early November, but remains well bid. A test of the 2016 high at 2.7515 seems likely in the near-term, and a break above would then pave the way for an extension of the rally to at least 2.9750. Traders might want to keep an eye on the previous key resistance area of $2.27-2.32, as it will likely attract decent demand.
COPPER - Daily Chart - 30.01.2017
COPPER - Weekly Chart - 30.01.2017
NAT GAS has been moving sideways in the past few trading weeks, and the outlook is mixed. The key levels to watch are $3.09 and $3.89. A break sub-$3.09 would signal that another test of $2.50/55 will follow.
NATGAS - Daily Chart - 30.01.2017
WTI has seen several weeks of rather low volatility as well. Overall, short-term techs remain positive, but the obstacle at $55.25 has proven to be a difficult one. WTI needs to hold above $50.65 for the outlook to remain bullish; a break below would signal a deeper retracement, to at least $49.
WTI - Daily Chart - 30.01.2017
GOLD was rejected off $1220 resistance last week and fell back below $1200. However, support at $1180 remained intact, and there is another notable tech level near ($1176). Only a break below would switch short-term techs back to negative and signal a continuation of the overall downtrend to at least $1122 and possibly $1080.
GOLD - Daily Chart - 30.01.2017