Arabica Coffee (KC) slid another 1.5% plus yesterday, and is suddenly near the June low. Any weekly close below upchannel support (on the weekly chart) will dramatically increase the odds of KC retesting downchannel support (on the daily chart) in the week after….
Raw sugar (SB) edged up yesterday but remains vulnerable this week to deepening in its consolidation from the 2023 high (formed in Apr). Any test of its record high (formed Feb 2011 and seen easier on a monthly chart on tradingview.com) will likely have to wait until sometime in 2024….
New York Cocoa (CC) slid more than 1% yesterday on healthy profittaking after reaching a fresh 2023 high. Although CC appears to want to test its 2015 high (formed that December) sometime by Q3, CC is vulnerable the balance of this week to breaking the 4hr upchannel support, which would dramatically increase the odds of a deeper slide in the week after to upchannel support (on the daily and weekly chart)…
Arabica Coffee (KC) slid another 2.5% plus yesterday, closing back below downchannel resistance (on the daily chart). Although KC is back to near upchannel support (on the weekly chart), it remains moderately likely to test the psychologically key 2 whole figure level and the 2023 high (formed in April) before month end…
Arabica Coffee (KC) pulled back a healthy 2% plus Friday, closing just above downchannel resistance (on the daily chart). Nevertheless, KC appears well positioned to test the psychologically key 2 whole figure level sometime this week…
Arabica Coffee (KC) soared a massive 5% plus today, breaking above downchannel resistance (on the daily chart). With today’s surge to near the psychologically key 2 whole figure level, KC suddenly appears likely to retest the 2023 high (formed in April) by June sometime….
WTI Crude (CL) is edging higher going into today’s 1030am EST highly anticipated weekly inventory and Thursday’s US unemployment claims. With CL bouncing yesterday off the psychologically key 70 whole figure level, odds are decent for a weekly close above downchannel resistance (on the weekly chart)…
Arabica Coffee (KC) is edging higher today and appears likely to test downchannel resistance (on the daily chart) by the weekend. With last week’s weekly Doji recovering from the May low and the current weekly candle trying to close above upchannel support (on the weekly chart), odds are decent for another test of the psychologically key 2 whole figure level sometime in June….
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Arabica Coffee (KC) bounced more than 1.5% yesterday and is once again trying to halt the downchannel (on the daily chart). With last week’s weekly Doji recovering from the May low and the weekly close around upchannel support (on the weekly chart), odds are decent for another test of downchannel resistance (on the daily chart) before the weekend…
