Sugar Daily Oct 3, 2023

Raw sugar (SB) edged roughly 0.5% lower yesterday, closing just above the April, May and June highs. With the reversal from September’s 2023 high gaining momentum, a break below upchannel support (on the daily chart) appears imminent, and would dramatically increase the likelihood of testing the psychologically key 25 whole figure level in the week after….

Cocoa Daily Oct 3, 2023

New York Cocoa (CC) bounced nearly 2.5% yesterday, trying to reclaim upchannel support (on the daily and weekly chart). Whether CC closes on a daily basis above the psychologically key 3500 key whole figure level today will largely determine whether CC resumes its healthy profittaking before the weekend…