New York Cocoa (CC) surged more than 2.5% yesterday, closing around the 2023 daily closing high after briefly breaking to a fresh intraday 2023 high. Nevertheless, CC is increasingly vulnerable to healthy profittaking as it nears once again upchannel resistance (on the weekly chart) and bumps against the daily chart upchannel resistance…
Arabica Coffee (KC) edged higher yesterday, forming the 1st green daily candle in 6 days after closing at a fresh June low below the March low. KC appears to have overshot to the downside with it having slipped slightly below descending wedge support (on the daily chart) and the 61.8% Fib retrace of the January to April bounce…
Raw sugar (SB) slid more than 3% Friday, forming a fresh intraday June low. With a weekly close comfortably below the psychologically key 25 whole figure level, SB is vulnerable today to breaking the weekly chart upchannel support…
New York Cocoa (CC) edged almost 0.5% lower Friday, continuing a week long or so consolidation from a fresh 2023 high. CC is increasingly vulnerable to furthering in its healthy profittaking and sliding deeper within the upchannel (on the weekly chart) going into month end….
Arabica Coffee (KC) slid more than 3% Friday, closing at a fresh June low below the March low. With KC decisively below the upchannel support (on the weekly chart), KC is no longer likely to reclaim the psychologically key 2 whole figure level and the 2023 high (formed in April) until at least August…
The GBPAUD surged well over 250 pips Friday from its day’s low to high, closing comfortably above the psychologically key 1.90 whole figure level. Odds are elevated for healthy consolidation to kick in by early week once the GBPAUD regains its 2023 high formed early June…
Raw sugar (SB) slid almost 4% yesterday, and is vulnerable to a weekly close below the psychologically key 25 whole figure level and the weekly chart upchannel support. SB was rejected Monday and Tuesday from just below the May and 2023 high, and is increasingly likely to close on a weekly basis below the June low…
New York Cocoa (CC) slid nearly 1% yesterday, continuing the consolidation since Thursday’s fresh 2023 high. CC is increasingly vulnerable to furthering in its healthy profittaking and sliding deeper within the upchannel (on the weekly chart) going into month end…
Arabica Coffee (KC) edged lower yesterday, closing at a fresh June low below the May low. With KC decisively below the upchannel support (on the weekly chart), KC is now moderately likely to retest the March low by month end…
Raw sugar (SB) slid more than 1% yesterday, consolidating for a 2nd straight day just below the May and 2023 high. Increasingly, SB appears hesitant in extending the upchannel (on the weekly chart) particularly with SB appearing vulnerable today to breaking ascending wedge support (on the 4hr chart)…
