 Hello, welcome to this week's CMC Markets Commodity Snapshot with myself, Jasper Lawler. This week we're going to be focusing on a couple of commodities, some that we don't normally pay so much attention to but I think are worth looking at on this occasion, namely sugar and coffee. Now, we've been seeing a lot more volatility in the commodity space towards the end of last year and a lot of that obviously has correlated with the decline in oil prices. Now with oil prices, there is a pretty strong fundamental argument for the fall off. There's definitely an increase in production from the likes of Russia and the US, global demand is slowing and that supply demand, disbalance, explains that the fall off in oil prices. A lot of other commodities have been falling too, a lot related to the strength of the US dollar because of the strength of the US economy and the likelihood that the Federal Reserve would be one of the first, if not the first, major central bank to hike interest rates in 2015 or perhaps 2016, depending on your outlook. But we've got to consider that some of these commodities have their own fundamental pictures which I think may actually start coming to the fore a bit more as we've reached close to a bottom perhaps in oil around $50 per barrel. Now there's a very similar technical setup in both sugar and coffee at the moment, namely a rally off a multi-year low and so I want to flip over to the charts now and have a look at both of those and see what the potential is. Now I think probably the most prominent of the two charts would be the sugar chart. Now here we have a daily candlestick chart and you can see right around this 1350 level there was a low formed, we've gone relatively sideways since, we've recently retested with a strong move higher and should the weak close around these kind of levels we could be looking at a weekly bullish engulfing candlestick towards the end of a rally at the retest of a low. That also coincided with this break of this declining trend line and this is potentially bullish for the price of sugar and we're looking at a small retest as of yesterday and it will definitely be interesting to see over the days to come whether it can hold above that declining trend line because that could point to higher prices. Now you can see on this coffee chart we've got a pretty kind of similar setup. We saw this multi-year low coming in at around this 157 mark. Prices have been on quite a kind of steep downtrend alongside the price of oil but we've now come and retested that level again broken through that declining trend line as it was in the sugar chart and what we have is just a bit of resistance from the 200 day moving average above prices and what we could be looking at here is the resistance level that's about 180 that we've recently tested. A move above there could again reaffirm the chance of a kind of more bullish move off this level. But that's it for this week's CMC Markets Commodity Snapshot. We were of course looking at sugar and coffee and the motivations for looking at them were just that general concept in terms of perhaps an overdone to the downside of commodities in general and just looking away from oil and silver perhaps the more commonly traded markets and looking at opportunities elsewhere. So let's just look to see if we can form and complete a bullish engulfing candlestick on the weekly charts for these two and see where prices can head from there.