Raw sugar (SB) rebounded more than 1.5% Friday, closing the week at downchannel resistance (on the weekly chart). SB increasingly appears likely to spend the next few weeks trying to neutralize the slide since late January, with a higher March low versus the December low probable…
Cocoa Daily Mar 18, 2024
New York Cocoa (CC) surged a massive more than 8% Friday to another fresh 2024 and record high. With Friday’s burst above the weekly chart’s steeper upchannel resistance (connecting the February and March highs), and to the daily chart upchannel resistance, healthy consolidation is likely this week…
Coffee Daily Mar 18, 2024
Arabica Coffee (KC) edged nearly 0.5% lower Friday, closing the week near triangle support (on the weekly chart). KC is still arguably slightly bearish in its weekly chart Bull Flag consolidation since late December…
S&P500 (ES) Weekly Chart Ascending Wedge Support Near Complete
The S&P500 (ES) slid more than 0.5% Friday, consolidating further as seen by last week’s second straight weekly Doji near the 2024 high. ES is looking increasingly fatigued and near completion on what is arguably an ascending wedge (on the weekly chart)…
Sugar Daily Mar 15, 2024
Raw sugar (SB) edged more than 0.5% lower yesterday, but remains moderately likely to spend the next few weeks trying to neutralize the slide since late January. Any weekly close above downchannel resistance (on the weekly chart) will likely result in a higher March low versus the December low…
Cocoa Daily Mar 15, 2024
New York Cocoa (CC) surged more than 5% yesterday to another fresh 2024 and record high. With yesterday’s burst intraday to the weekly chart’s steeper upchannel resistance (connecting the February and March highs), and to the daily chart upchannel resistance, consolidation is likely going into next week…
Coffee Daily Mar 15, 2024
Arabica Coffee (KC) bounced more than 0.5% yesterday off triangle support (on the weekly chart). Any close going into the weekend back above the 4hr chart downchannel resistance will all but neutralize the still slightly bearish tilt of the weekly chart Bull Flag consolidation since late December…
Sugar Daily Mar 14, 2024
Raw sugar (SB) formed a daily Hammer yesterday, but remains moderately likely to spend the next few weeks trying to neutralize the slide since late January. Any weekly close above downchannel resistance (on the weekly chart) will likely result in a higher March low versus the December low…
Cocoa Daily Mar 14, 2024
New York Cocoa (CC) edged lower yesterday with its daily Gravestone after Tuesday’s fresh 2024 and record high. With yesterday’s hesitation just above the psychologically key 7k whole figure level at the weekly chart’s steeper upchannel resistance (connecting the February and March highs), a further short squeeze to the daily chart upchannel resistance by the weekend is unlikely…
Coffee Daily Mar 14, 2024
Arabica Coffee (KC) slid more than 1.5% yesterday, once again appearing moderately vulnerable to forming a fresh March low before month end. Any clawing back above the 4hr chart downchannel resistance though will neutralize the now slightly bearish tilt of the weekly chart Bull Flag consolidation since late December…