CommodityTrends Weekly Newsletter

May Soybean Oil has formed a 1-2-3 top formation, and it has done so inside a monthly chart resistance zone. I'll keep watching to see if price can move lower before I contemplate an entry. Ideally I'd like price to break below the gold horizontal weekly chart support level at 65.00. If this happens, I'll consider an entry to the downside. Stops would be placed above recent highs. The initial target could be the top of the blue consolidation zone near 60.22. For now, I'm watching from the sidelines.

May Natural Gas is trending lower and approaching the current #1 bottom point at 2.689 (the low on Jan. 15, 2026). Because price is inside of a very large monthly chart support zone (purple rectangle), I'm not interested in taking a short position. However, I will patiently watch to see if a new bottom formation develops. For now, I'll keep watching.

Last week I wrote: "Jun Live Cattle is on the verge of possibly triggering a MET to the upside. A break of the Feb. 19 high will trigger the entry. If filled, stops can be placed below recent lows (depending on risk tolerance). The initial target is the bottom of the weekly chart resistance zone at 244.575."

The entry was triggered on March 30, and the initial target was reached today, April 2. For any additional positions still open, the stop loss can now be moved up to just above the entry price. This helps protect the trade as much as possible while still giving the market a little room to move.

Last week I wrote: "Jun Lean Hogs is on the verge of triggering an MET entry to the downside. If the entry is filled, stops can be placed above recent resistance, depending on your risk tolerance. The initial downside target is the top of the weekly chart resistance zone near 101.975."

The entry was filled on March 20. Since then, price bounced off a weekly chart support level, shown by the gold horizontal line, but has now turned lower again. With that in mind, be sure to keep your stops in place. The next resistance level sits much higher, at the purple monthly chart horizontal line near 108.  

Last week I wrote: "May Cocoa has developed a 1-2-3 bottom formation. The #1 point at 2846 (the low on March 02). The #2 point is at 3480 (the high on March 11). The #3 point is 3080 (the low on March 26). If price breaks above the two purple horizontal trend lines just above current price, it will trigger a long entry. The initial stop can be placed below the #3 point, and the first target would be the monthly chart purple resistance line at 3756."

An entry was triggered on March 31. As mentioned above, the initial stops are below the #3 point and the initial target is the monthly chart purple resistance line at 3756.  

I’m still watching for Apr Class III Milk to break out of its large consolidation pattern. Which means I’m on the lookout for a possible MET trigger in the direction of that breakout. For now, I’m staying on the sidelines.