New York Cocoa (CC) slid 2% plus yesterday after Monday’s fresh 2024 and record high. With the red weekly Gravestone forming, CC no longer appears likely to short squeeze further to the daily chart upchannel resistance by the weekend…
Arabica Coffee (KC) slid nearly 2% yesterday, and once again appears somewhat vulnerable to deepening in the next week or so, the consolidation since late December to the February low. Nevertheless, odds remain decent for a reclaiming of the 2023 high (formed in December on the March and continuous contract as seen easier on a monthly chart at tradingview.com) and the psychologically key 2 whole figure level by April sometime…
Raw sugar (SB) slid more than 2% yesterday (on the May contract), and is arguably breaking below upchannel support connecting the lows of 2020 and 2023 as can be seen on a monthly continuous chart on tradingview.com. With SB forming a lower March low versus the February low Friday, and the weekly chart downchannel extending, odds are elevated for a test of the December low sometime by mid March…
New York Cocoa (CC) gained another 4% plus yesterday to a fresh 2024 and record high. Odds are now decent for a short squeeze to continue further to the daily chart upchannel resistance by the weekend…
Arabica Coffee (KC) gained roughly 2% yesterday, and remains on pace to halting in the next week or so, the consolidation since late December from extending below the January low. Odds are fairly decent for a reclaiming of the 2023 high (formed in December on the March and continuous contract as seen easier on a monthly chart at tradingview.com) and the psychologically key 2 whole figure level by April…
New York Cocoa (CC) gained another 1.5% plus yesterday back to just shy of Monday’s fresh 2024 and record high. Nevertheless, with a weekly Doji forming, CC no longer appears likely to short squeeze further to the daily chart upchannel resistance by the weekend…
Raw sugar (SB) gained another more than 2.5% yesterday (on the May contract), but remains vulnerable to testing the December low sometime in March. Odds are still moderately high for a decisive break sometime in the next week or so below upchannel support connecting the lows of 2020 and 2023 as can be seen on a monthly continuous chart on tradingview.com…
Arabica Coffee (KC) rebounded more than 1.5% yesterday, and once again appears to have a slightly bullish tilt to its advanced stage consolidation since late December. Any break above the 4hr chart downchannel resistance ahead of the weekend will dramatically increase odds for a reclaiming of the 2023 high (formed in December on the March and continuous contract as seen easier on a monthly chart at tradingview.com) and the psychologically key 2 whole figure level by April sometime…
Raw sugar (SB) slid more than 2.5% Friday (on the May contract), and once again is vulnerable to a break below upchannel support connecting the lows of 2020 and 2023 as can be seen on a monthly continuous chart on tradingview.com. With SB forming a lower March low versus the February low Friday, odds are elevated for a test of the December low sometime in March…
New York Cocoa (CC) gained another 4.5% plus Friday, but remains vulnerable to resuming the reversal this week from last Monday’s fresh 2024 and record high. Depending on whether CC slides lower this week, last week’s weekly Doji may provide a second data point of a weekly chart upchannel resistance line…
