Month: July 2023

Sugar Daily Jul 26, 2023

Raw sugar (SB) slid almost 1% yesterday and appears vulnerable to further healthy profittaking in the next day or so on the reversal from Monday’s fresh July intraday high just above the psychologically key 25 whole figure level. SB’s strong bounce from just below the 38.2% Fib retrace of the November to April bull market extension and near the 23.6% Fib retrace of the April 2020 to April 2023 bull market (as seen easier on a monthly chart on tradingview.com) no longer bullishly extends above the June monthly candle body upper range…

Cocoa Daily Jul 26, 2023

New York Cocoa (CC) surged more than 1.5% yesterday, forming a fresh 2023 high and extending further above the 2015 high (formed that December as can be seen easier on a monthly chart on tradingview.com). With CC bumping intraday yesterday against upchannel resistance (on the weekly chart), healthy consolidation is fairly likely for the balance of the week…

Coffee Daily Jul 26, 2023

Arabica Coffee (KC) edged lower yesterday with its daily Doji, but remains poised for more upside going into month end with most of this week’s trading range above the prior two green weekly Hammers. KC appears to have halted the slide from the 2023 high in April, with a higher July low versus the January low increasingly likely…

Sugar Daily Jul 25, 2023

Raw sugar (SB) edged down with its daily Gravestone yesterday reversing from a fresh July intraday high just above the psychologically key 25 whole figure level. Nevertheless, SB’s strong bounce from just below the 38.2% Fib retrace of the November to April bull market extension dramatically increases odds that the long green monthly candle body rebounding off the 23.6% Fib retrace of the April 2020 to April 2023 bull market (as seen easier on a monthly chart on tradingview.com) will extend higher above the upper range of the June monthly candle body…

Cocoa Daily Jul 25, 2023

New York Cocoa (CC) edged higher with its daily Doji yesterday, and is now just shy of last week’s 2023 high above the 2015 high (formed that December as can be seen easier on a monthly chart on tradingview.com). CC is trying to extend towards upchannel resistance (on the weekly chart), continuing the massive bull market rally that began November 2022…

Sugar Daily Jul 24, 2023

Raw sugar (SB) surged another near 1.5% Friday, closing at a fresh July high and just above the psychologically key 25 whole figure level. SB’s strong bounce from just below the 38.2% Fib retrace of the November to April bull market extension dramatically increases odds that the long green monthly candle body rebounding off the 23.6% Fib retrace of the April 2020 to April 2023 bull market (as seen easier on a monthly chart on tradingview.com) will extend higher above the upper range of the June monthly candle body…

Cocoa Daily Jul 24, 2023

New York Cocoa (CC) edged almost 1% higher Friday, closing once again near Wednesday’s fresh 2023 high above the 2015 high (formed that December as can be seen easier on a monthly chart on tradingview.com). CC is trying to extend towards upchannel resistance (on the weekly chart), continuing the massive bull market rally that began November 2022…