Nasdaq100 (NQ) slid more than 0.5% lower Friday, closing the week near its low. NQ increasingly appears close to completing its massive rally from the 2022 low (in October) to the 2023 high (formed in July) with NQ testing ascending wedge support (on the weekly chart). If the August candle (as can be seen more easily on a monthly chart on tradingview.com) elongates in its red body to below the June low, the July high will likely have marked the high for 2023…
Raw sugar (SB) slid more than 0.5% yesterday and once again, appears somewhat vulnerable to further healthy profittaking going into mid August continuing the reversal 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) has reversed roughly half its gains, with the August candle now red…
New York Cocoa (CC) slid nearly 2% yesterday, breaking upchannel support (on the 4hr chart). CC is now suddenly nearing upchannel support (on the daily chart) after getting rejected yesterday from near upchannel resistance (on the weekly chart) and a fresh 2023 intraday high formed last Thursday…
Arabica Coffee (KC) slid more than 1% yesterday, hesitating near the July high. Nevertheless, with the current green weekly candle on pace to close above much of the price action of the prior 5 weekly candles, KC has made progress in trying to halt its slide from the 2023 high in April…
Raw sugar (SB) gave back more than 0.5% yesterday and once again, appears somewhat vulnerable to further healthy profittaking going into mid August continuing the reversal 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) has reversed nearly half its gains and no longer bullishly extends above the June monthly candle body upper range…
New York Cocoa (CC) edged higher as part of its 5th straight day of consolidation yesterday, remaining somewhat at risk of healthy profittaking before the weekend. A weekly Doji is trying to form near the fresh 2023 intraday high formed Thursday after the extension above the 2015 high (formed that December as can be seen easier on a monthly chart on tradingview.com)…
Arabica Coffee (KC) surged nearly 1.5% yesterday, pushing intraday just above the July high. With the current green weekly candle trying to exceed the price action of the prior 5 weekly candles, KC is making progress in trying to halt its slide from the 2023 high in April…
Raw sugar (SB) bounced another more than 1% yesterday but remains somewhat vulnerable to further healthy profittaking going into mid August continuing the reversal 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) has reversed nearly half its gains and no longer bullishly extends above the June monthly candle body upper range…
New York Cocoa (CC) consolidated a 4th straight day yesterday, and is increasingly at risk of healthy profittaking before the weekend. A weekly Doji is trying to form near the fresh 2023 intraday high formed Thursday after the extension above the 2015 high (formed that December as can be seen easier on a monthly chart on tradingview.com)…
Arabica Coffee (KC) formed a daily Doji yesterday, pushing intraday just above the July high. With the current green weekly candle trying to exceed the price action of the prior 3 weekly candles, KC once again appears like it is trying to halt its slide from the 2023 high in April…
