New York Cocoa (CC) gained another near 1.5% yesterday, closing at a fresh 2023 high. CC is now likely to extend its upchannel (on the weekly chart) and test upchannel resistance by mid September…
Cocoa Daily Aug 31, 2023
Month: August 2023
Sugar Daily Aug 31, 2023
Raw sugar (SB) edged lower yesterday after forming a fresh August intraday high, producing a red daily Gravestone after Tuesday’s Hammer. SB appears likely going into the weekend, to continue consolidating around the psychologically key 25 whole figure level…
Coffee Daily Aug 31, 2023
Arabica Coffee (KC) gained almost 1.5% yesterday, closing just under the July low. The slide from the April high is now exhausting with a high probability for more short covering going into the weekend…
Sugar Daily Aug 30, 2023
Raw sugar (SB) consolidated with a red daily Doji yesterday after 4 straight up days, hovering near a fresh August high and comfortably above the psychologically key 25 whole figure level. SB’s consolidation of a major bull market from April 2020 to April 2023 is near complete…
Cocoa Daily Aug 30, 2023
New York Cocoa (CC) soared more than 3% yesterday, closing just shy of the 2023 high (formed 3 weekly candles ago). CC is now likely to extend its upchannel (on the weekly chart) and test upchannel resistance by early September…
Coffee Daily Aug 30, 2023
Arabica Coffee (KC) formed a 4th straight daily Doji yesterday, hesitating just under the July low. Although the slide from the April high may be exhausting with a moderate probability for short covering this week, KC remains vulnerable to testing the August low by month end with KC still below the 61.8% Fib retrace of the Jun 2020 to Feb 2022 bull market (as seen easier on a monthly chart on tradingview.com)…
Sugar Daily Aug 29, 2023
Raw sugar (SB) surged nearly 3% yesterday, forming a fresh August high and reclaiming the psychologically key 25 whole figure level. SB’s November to May bull market consolidation is near complete…
Cocoa Daily Aug 29, 2023
New York Cocoa (CC) edged higher yesterday, but remains somewhat at risk this week of continuing the correction from the 2023 high (formed 3 weekly candles ago). Any test of the August low will coincide with a test of upchannel support (on the weekly chart)…
Coffee Daily Aug 29, 2023
Arabica Coffee (KC) formed a 3rd straight daily Doji yesterday, hesitating just under the July low. Although the slide from the April high may be exhausting with a moderate probability for short covering this week, KC remains vulnerable to testing the August low by month end with KC still below the 61.8% Fib retrace of the Jun 2020 to Feb 2022 bull market (as seen easier on a monthly chart on tradingview.com)…
Sugar Daily Aug 28, 2023
Raw sugar (SB) surged more than 2% Friday, arguably completing a triangle (on the daily chart). SB’s November to May bull market consolidation now appears near complete….