Weekly volatility report

A weekly look at some of the main movers in financial markets, covering a variety of asset classes.

Cocoa beans Source: Bloomberg

The risers

Lean Hogs: this market is up 7% in a week, building on an existing rally that has barely paused since late February.

Fears of African swine fever in China have driven prices higher on expectations of lower supply. As a result, lean hogs have surged. Indeed, the rally has gone parabolic over the past month, with the latest surge taking the price above the 8513 level last seen in mid-2017. A sharp retracement may be in store, but 8513 will be initial support.

Lean hogs chart

Lean hogs chart

Cocoa: this has been a two-way market for some months now, but the price has recently broken out of a descending trend channel.

The breakthrough resistance around 2300 has been followed up with further gains, including above the previous high of mid-February at 2350. Further gains target 2450.

Cocoa chart

Cocoa chart

Platinum: it has been a good few months for platinum prices, which have hit a ten-month high.

The price has clocked up higher highs and higher lows since mid-February and has now pushed above the November high of 878. A possible bearish wedge is being formed, but for now a pullback may find support around 860. Further gains target 914.

Platinum chart

Platinum chart

The fallers

VIX: the volatility index has seen another decline, falling back from the 17 level that has acted as resistance in March and April.

The decline has stabilised around 15.5, but further falls target the lows of March at 14.8. A rebound targets 17.5, the peak seen in March and April.

VIX chart

VIX chart

Silver: the price has lost ground since mid-February, and it looks to be breaking lower from a bullish wedge.

This breakdown would then target $14.00 in the near term. A rebound requires a close above $15.30 to open the way to $15.60 and then $16.20.

Silver chart

Silver chart


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