This Commodity Might Have the Golden Ticket

Although not on the radar for most retail traders, cocoa has notably outperformed most commodities of late. There may very well be a bullish supply story, as well, a subject for another blog post. But in terms of the technicals, you are talking about a series of higher price highs and higher lows since late-March. 

Several members inside Market Chess Subscription Services have been playing cocoa futures in lieu of the very thinly-traded (in terms of volume) NIB ETN for the cocoa commodity, seen below on the daily timeframe. Going forward, if NIB can crack $43 I expect another thrust higher for cocoa. 

While it is easy to get caught up in the endless slog sideways of crude oil, some under-the-radar commodities like this one are worth a look. We are also staying on top of other softs of note, including wheat, for example.