Sugar Daily Feb 27, 2024

Raw sugar (SB) bounced more than 1.5% yesterday (on the May contract) but remains at elevated risk ahead of the weekend of deepening the consolidation from the January high. SB has given up its 38.2% Fib retrace of the December slide, and is somewhat vulnerable to resuming a prior dowchannel (on the weekly chart)…

Coffee Daily Feb 27, 2024

Arabica Coffee (KC) edged lower yesterday and is likely to extend the consolidation since late December going into Q2. With yesterday’s fresh February low, 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 will likely have to defer until at least April…

Coffee Daily Feb 26, 2024

Arabica Coffee (KC) slid more than 1.5% Friday (on the May contract) and is likely to extend the consolidation since late December going into Q2. With Friday’s fresh February low, a break above 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 will likely have to defer until at least April…

Cocoa Daily Feb 26, 2024

New York Cocoa (CC) surged more than 6.5% Friday to a fresh 2024 and record intraday high. Although CC may very well squeeze higher early week, odds are decent for a pullback by mid week to the psychologically key 6k whole figure level as Friday’s break above upchannel resistance (on the daily and weekly chart) is unsustainable…

Sugar Daily Feb 23, 2024

Raw sugar (SB)’s edged nearly 0.5% lower yesterday (on the May contract), but continues with its tentative weekly Hammer to try halting the consolidation from the January high. Nevertheless, SB has given up its 38.2% Fib retrace of the December slide, and is somewhat vulnerable to resuming a prior dowchannel (on the weekly chart)…

Cocoa Daily Feb 23, 2024

New York Cocoa (CC) edged lower yesterday with a daily Hammer (on the May contract) after reaching a fresh 2024 and record intraday high. Although CC may very well squeeze higher going into next week, odds are decent for the psychologically key 6k whole figure level to be the ceiling for this tremendous bull market extension with the current weekly candle unsustainably above what is arguably upchannel resistance (on the weekly chart)…