WTI Crude (CL) edged lower on a daily Doji Friday after forming a fresh intraday June high and closing the week just above the psychologically key 80 whole figure level. With CL’s strong bounce off the June low, it is suddenly just a week’s volatility from the 2024 high (formed April)…
Raw sugar (SB) surged more than 3.5% yesterday, forming a fresh June high (on the October contract). With SB having rebounded from the 2024 low to above the May high and the psychologically key 20 whole figure level, a break of descending wedge resistance (on the weekly chart) by early July is likely…
New York Cocoa (CC) slid more than 7% yesterday (on the September contract), closing below the 50% Fib retrace of the January to April bull market extension near the June low. CC is at elevated risk of unravelling the bounce from the May low by mid July…
Arabica Coffee (KC) formed a daily Doji yesterday, with a 5th straight weekly Gravestone/Hammer trying to form just below the 2024 high. Nevertheless, KC remains within what appears to be the advanced stages of a 2 month Bull Flag consolidation…
Raw sugar (SB) edged higher yesterday with a daily Doji, continuing its consolidating just below Monday’s fresh June high (on the October contract). SB is now unlikely to drift back to the 2024 low by month end…
New York Cocoa (CC) edged higher yesterday (on the September contract), with a 2nd straight daily Hammer finding support near the 50% Fib retrace of the January to April bull market extension. Nevertheless, CC remains at moderate risk of unravelling the bounce from the May low by mid July…
Arabica Coffee (KC) slid more than 2% yesterday, with a 5th straight weekly Gravestone/Hammer trying to form just below the 2024 high. Nevertheless, KC remains within what appears to be the advanced stages of a Bull Flag consolidation from the April and June high…
Raw sugar (SB) edged lower yesterday just below Monday’s fresh June high (on the October contract). Nevertheless, SB is unlikely to drift back to the 2024 low by month end…
New York Cocoa (CC) edged more than 1% lower yesterday (on the September contract) with the daily Hammer reversing from the around the 50% Fib retrace of the January to April bull market extension. Nevertheless, CC remains at moderate risk of unravelling the bounce from the May low by early July…
Arabica Coffee (KC) slid more than 3% yesterday, hesitating just below the June high. Nevertheless, KC remains within what appears to be the advanced stages of a Bull Flag consolidation from the April and June high…
