Ratio charts can show us many interesting things. They can reveal supports and resistances where’s a high probability of turnover. One such interesting situation can now be seen in the cocoa/sugar ratio. Take a look at the following chart. It’s clear that the ratio responds to support on the red line. The last time it…

Sugar has been in a downtrend for quite some time. I think this is about to change. This is the daily OHLC chart from app.spreadcharts.com: Yep, no sign of a turnaround. So why do I think this may happen? Because of the internal structure of the market, i.e. distribution of futures positions between particular market participants….