Coffee Daily Dec 22, 2022

Arabica Coffee (KC) edged almost 1% higher yesterday, closing near descending wedge/triangle resistance (on the daily chart). With KC testing another weekly chart descending wedge resistance line, a higher December low versus the November low is increasingly and rather likely, which if successful and reinforced by a higher December high versus the November high, would dramatically increase odds that a major bottom has been made within the consolidation since February…

Coffee Daily Dec 21, 2022

Arabica Coffee (KC) formed a daily Doji yesterday, trying to halt Friday’s slide just below descending wedge/triangle resistance (on the daily chart). Nevertheless, KC managed to close slightly above a weekly chart descending wedge resistance line, keeping a higher December low versus the November low in play, which if successful and reinforced by a higher December high versus the November high, would dramatically increase odds that a major bottom has been made within the consolidation since February…

Coffee Daily Dec 20, 2022

Arabica Coffee (KC) formed a daily Doji yesterday, trying to halt Friday’s slide just below descending wedge/triangle resistance (on the daily chart). Nevertheless, KC managed to close slightly above a weekly chart descending wedge resistance line, keeping a higher December low versus the November low in play, which if successful and reinforced by a higher December high versus the November high, would dramatically increase odds that a major bottom has been made within the consolidation since February…

Wheat (ZW) Consolidating Near 61.8% Fib Retrace of Sep16-Mar22 Bull Market

Wheat (ZW) has been consolidating for 2 weeks near the 61.8% Fib retrace of the September 2016 to March 2022 bull market (as can be seen on a monthly chart on tradingview.com), but remains moderately vulnerable to sliding back to the 2022 low before year end. ZW will need a weekly close above the psychologically key 800 whole figure level and to break above descending wedge resistance (on the weekly chart) to neutralize the still somewhat bearish longer term momentum…

Coffee Daily Dec 19, 2022

Arabica Coffee (KC) slid more than 4% Friday, closing last week below descending wedge/triangle resistance (on the daily chart). Nevertheless, KC managed to close slightly above a weekly chart descending wedge resistance line, keeping a higher December low versus the November low in play, which if successful and reinforced by a higher December high versus the November high, would dramatically increase odds that a major bottom has been made within the consolidation since February…