Raw sugar (SB) surged another near 2% yesterday closing at a fresh July high above the Jun 6 low. SB no longer appears likely by month end to slide back below the 38.2% Fib retrace of the November to April bull market extension…
New York Cocoa (CC) slipped more than 1% yesterday in healthy consolidation after hitting a fresh 2023 high above the 2015 high (formed that December as can be seen easier on a monthly chart on tradingview.com). With the weekly Doji having been rejected at the upchannel resistance (on the weekly chart), CC will likely want to catch a breather going into August before it tries launching from the 2015 high to the record high (formed March 2011)…
Arabica Coffee (KC) bounced more than 1.5% yesterday off the July low. With the red weekly candle trying to close as a Hammer, odds are rising for a halt of the slide from the 2023 high in April…
Raw sugar (SB) bounced almost 1.5% higher yesterday closing near the July high and Jun 6 low. SB no longer appears likely by month end to slide back below the 38.2% Fib retrace of the November to April bull market extension…
New York Cocoa (CC) surged more than 0.5% yesterday to a fresh 2023 high above the 2015 high (formed that December as can be seen easier on a monthly chart on tradingview.com). CC is once again testing the upchannel resistance (on the weekly chart) and will likely want to catch a breather going into August before it tries launching from the 2015 high to the record high (formed March 2011)…
Arabica Coffee (KC) edged more than 0.5% lower yesterday, retesting the July low. With the red weekly candle body lengthening, KC appears to be continuing the slide from the 2023 high in April and is now at elevated risk of testing before month end the psychologically key 1.50 whole figure level and the 2023 low…
Raw sugar (SB) edged higher with a daily Doji yesterday, trying to halt further healthy profittaking after forming a fresh July high and reclaiming the Jun 6 low. Odds are moderately low for a slide in July back below the 38.2% Fib retrace of the November to April bull market extension….
New York Cocoa (CC) surged nearly 1.5% yesterday to a fresh 2023 intraday high, retesting the 2015 high (formed that December as can be seen easier on a monthly chart on tradingview.com). CC is suddenly extending the upchannel (on the weekly chart) but will likely want to catch a breather for the next month or so before it tries launching from the 2015 high (which it closed at yesterday) to the record high (formed March 2011)…
Arabica Coffee (KC) firmed yesterday off the July low. Nevertheless, unless the still red weekly candle body flattens, KC remains at elevated risk of continuing the slide from the 2023 high in April and testing before month end the psychologically key 1.50 whole figure level and the 2023 low…
Raw sugar (SB) slid more than 2% yesterday on healthy profittaking after forming a fresh July high and reclaiming the Jun 6 low. Odds are rising but still moderately low for a slide in July back below the 38.2% Fib retrace of the November to April bull market extension…
