Arabica Coffee (KC) slid a massive 4% plus yesterday, breaking below the July low and is now likely to test the 2023 low by month end. Odds are suddenly elevated for a weekly close below the psychologically key 1.50 whole figure level, particularly with the red monthly candle extending 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)…
Raw sugar (SB) gained more than 1.5% Friday, reversing most of the prior week’s losses and halting the healthy profittaking from the July high just above the psychologically key 25 whole figure level. SB’s 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) is once again seeing upward momentum, with the August candle now green….
New York Cocoa (CC) formed a 3rd straight daily Doji or Hammer Friday, remaining vulnerable this week to extending the sharp reversal Monday from a fresh 2023 intraday high. With Tuesday’s plunge from upchannel support (on the daily chart) and last week’s weekly candle’s rejection at upchannel resistance (on the weekly chart), CC appears to be gravitating to the same upchannel’s support…
Arabica Coffee (KC) slid more than 1% Friday, breaking a 3 week uptrend off the July low as part of the major bottoming effort as can be seen easier on a monthly chart on tradingview.com. KC is suddenly back to near its July low, with moderate odds for a lower August low versus the July low…
The GBPAUD surged over 150 pips Friday from the day’s low to high, closing near the 2023 high formed Tuesday. With the GBPAUD bumping up against ascending wedge resistance (on the weekly chart), it is likely to consolidate for at least this week before attempting the key 2 whole figure level…
Raw sugar (SB) gained more than 1% yesterday, and is trying to complete a green weekly Doji and halt the healthy profittaking from the July high just above the psychologically key 25 whole figure level. Nevertheless, SB’s 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) has reversed more than half its gains, with the August candle still red…
New York Cocoa (CC) slid more than 1% lower (on the December contract) yesterday adding to the sharp reversal Monday from a fresh 2023 intraday high. With Tuesday’s plunge from upchannel support (on the daily chart) and the weekly candle’s rejection at upchannel resistance (on the weekly chart), CC appears to be gravitating to the same upchannel’s support….
Arabica Coffee (KC) edged more than 0.5% lower yesterday, arguably breaking intraday an uptrend off the July low as part of the major bottoming effort as can be seen easier on a monthly chart on tradingview.com. Despite the near complete red weekly Gravestone, last week’s green weekly candle spent some time above much of the price action of the prior 5 weekly candles, suggesting progress by KC in halting its slide from the 2023 high in April…
Raw sugar (SB) rebounded more than 1% yesterday, trying to form a green weekly Doji and halt the healthy profittaking from the July high just above the psychologically key 25 whole figure level. Nevertheless, SB’s 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) has reversed more than half its gains, with the red August candle threatening to unravel the July gains…
New York Cocoa (CC) edged lower (on the December contract) yesterday adding to the sharp reversal Monday from a fresh 2023 intraday high. With Tuesday’s plunge from upchannel support (on the daily chart) and the weekly candle’s rejection at upchannel resistance (on the weekly chart), CC appears to be gravitating to the same upchannel’s support…
