Sugar Daily Jun 18, 2024

Raw sugar (SB) slid nearly 2% yesterday (on the October contract), and appears vulnerable this week to drifting back towards the 2024 low. Nevertheless, any reclaiming of the May high and the psychologically key 20 whole figure level (albeit only moderately likely by month end for now) will dramatically increase the likelihood of a test of descending wedge resistance (on the weekly chart) in the few days after…

Cocoa Daily Jun 18, 2024

New York Cocoa (CC) slid nearly 4% yesterday (on the September contract), breaking once again below upchannel support (on the 4hr chart). The June high Thursday may very well hold for the balance of the month with CC unable to close Friday above the psychologically key 10k whole figure level…

Sugar Daily Jun 17, 2024

Raw sugar (SB) formed a daily Doji Friday (on the October contract) on growing momentum on the bounce off the 2024 low. Any reclaiming of the May high and the psychologically key 20 whole figure level will dramatically increase the likelihood of a test of descending wedge resistance (on the weekly chart) in the few days after…

Cocoa Daily Jun 17, 2024

New York Cocoa (CC) slid more than 2% Friday (on the September contract) with the daily Hammer reversing higher after briefly breaking below upchannel support (on the 4hr chart). The June high Thursday may very well hold for the balance of the month with CC unable to close Friday above the psychologically key 10k whole figure level…

Coffee Daily Jun 17, 2024

Arabica Coffee (KC) edged lower Friday with a Daily Doji (on the September contract), extending the consolidation from the June high. Although KC may see further healthy profittaking this week, odds remain moderate for a recapture of the 2024 high and extension of the upchannel (on the weekly chart) by early Q3…

Sugar Daily Jun 14, 2024

Raw sugar (SB) gained nearly 3% yesterday (on the October contract) on growing momentum on the bounce off the 2024 low. Any reclaiming of the May high and the psychologically key 20 whole figure level will dramatically increase the likelihood of a test of descending wedge resistance (on the weekly chart) in the few days after…

Cocoa Daily Jun 14, 2024

New York Cocoa (CC) edged lower yesterday (on the September contract) with the daily Gravestone reversing after forming a fresh June intraday high. The psychologically key 10k whole figure level may have capped the rally from the May low for June, with further healthy consolidation likely for next week…

Coffee Daily Jun 14, 2024

Arabica Coffee (KC) edged nearly 1% higher yesterday with a Daily Gravestone (on the July contract) trying to halt the consolidation from May’s high last Thursday. Although KC may see further healthy profittaking ahead of the weekend, odds remain moderate for a recapture of the 2024 high and extension of the upchannel (on the weekly chart) by early Q3…