Raw sugar (SB) edged higher yesterday, closing again just above Wednesday’s fresh 2024 low and the lowest level since January 2023. Any further short covering this week as it tries to bounce off descending wedge support (on the weekly chart) will likely remain subdued as suggested by the weekly Gravestone forming…
New York Cocoa (CC) edged higher yesterday (on the July contract), closing just shy of Friday’s fresh 2024 and record high. Nevertheless, odds remain elevated for healthy consolidation by next week as hinted by the still red weekly hammer which may become the 1st red weekly candle in 7 weeks…
Arabica Coffee (KC) rebounded more than 2.5% yesterday (on the July contract), trying to halt the healthy profittaking from last Thursday’s fresh 2024 intraday high (around the August 2022 high). Although bullish momentum can be expected to remain strong over the next few months (as seen easier on a monthly chart at tradingview.com), odds remain moderate for further consolidation ahead of the weekend to upchannel support (on the daily chart)…
Raw sugar (SB) edged higher yesterday with a 2nd straight daily Doji, closing just above Wednesday’s fresh 2024 low and the lowest level since January 2023. SB is likely to see further short covering this week as it tries to bounce off descending wedge support (on the weekly chart)…
New York Cocoa (CC) slid a near 3% further yesterday (on the July contract) from Friday’s fresh 2024 and record high. Odds are elevated for deeper healthy consolidation ahead of the weekend and the 1st red weekly candle in 7 weeks…
Arabica Coffee (KC) slid more than 3% yesterday (on the July contract), deepening in the healthy profittaking from Thursday’s fresh 2024 intraday high (around the August 2022 high). Although bullish momentum can be expected to remain strong over the next few months (as seen easier on a monthly chart at tradingview.com), odds are elevated for further consolidation ahead of the weekend to upchannel support (on the daily chart)…
Raw sugar (SB) edged higher Friday, closing last week just above Wednesday’s fresh 2024 low and the lowest level since January 2023. SB is likely to see further short covering early week as it tries to bounce off descending wedge support (on the weekly chart)…
New York Cocoa (CC) reversed a massive 6% plus yesterday (on the July contract) from Friday’s fresh 2024 and record high. Odds are elevated for further healthy consolidation this week and the 1st red weekly candle in 7 weeks…
Arabica Coffee (KC) slid more than 3% yesterday (on the July contract), deepening in the healthy profittaking from Thursday’s fresh 2024 intraday high (around the August 2022 high). Although bullish momentum can be expected to remain strong over the next few months (as seen easier on a monthly chart at tradingview.com), odds are elevated for further consolidation this week after yesterday’s break of upchannel support (on the 4hr chart)…
Raw sugar (SB) edged higher Friday, closing last week just above Wednesday’s fresh 2024 low and the lowest level since January 2023. SB is likely to see further short covering early week as it tries to bounce off descending wedge support (on the weekly chart)…
