New York Cocoa (CC) edged more than 1% higher yesterday, closing around upchannel support (on the weekly chart). Despite decent odds for another day or so of short covering, CC appears poised for deeper profittaking next week sometime after closing yesterday for a second straight day below the psychologically key 3500 key whole figure level…
Raw sugar (SB) bounced more than 2% yesterday off upchannel support (on the daily chart), closing once again just shy of the 2023 high. The near complete weekly Hammer suggests an unwillingness for the consolidation that began last week with its weekly Doji to further deepen…
Arabica Coffee (KC) slid more than 1% yesterday, testing the August and September lows and closing below the psychologically key 1.5 whole figure level. KC is vulnerable to a retest by next week of the weekly chart downtrend support (connecting the March and August lows)…
Raw sugar (SB) formed a red daily Doji yesterday, remaining vulnerable to deepening in the consolidation that began last week with its weekly Doji just below the 2023 high. SB’s bull market from April 2020 is pausing, although the 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 been strong overall as seen by the current green monthly candle’s upper shadow having edged above the upper range of the April candle…
New York Cocoa (CC) slid almost 2.5% yesterday, closing below upchannel support (on the daily and weekly chart). Despite decent odds for a day or so of short covering, CC appears poised for deeper profittaking by early October after closing yesterday decisively below the psychologically key 3500 key whole figure level…
Arabica Coffee (KC) slid more than 1% yesterday, testing the August and September lows and closing back below the psychologically key 1.5 whole figure level. KC is trying to halt its slide from the September high, but remains moderately vulnerable to a retest by month end of the weekly chart downtrend support (connecting the March and August lows)…
Raw sugar (SB) slid more than 1% yesterday, deepening in the consolidation that began last week with its weekly Doji just below the 2023 high. SB’s bull market from April 2020 is pausing, although the 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 been strong overall as seen by the current green monthly candle’s upper shadow having edged above the upper range of the April candle…
New York Cocoa (CC) formed a daily Doji yesterday, closing at upchannel support (on the daily and weekly chart). Despite decent odds for a day or so of short covering, CC appears poised for deeper profittaking by early next week after closing yesterday below the psychologically key 3500 key whole figure level…
Arabica Coffee (KC) bounced more than 1% yesterday, closing just above the psychologically key 1.5 whole figure level and August and September lows. KC is trying to halt its slide from the September high, but remains moderately vulnerable to a retest by month end of the weekly chart downtrend support (connecting the March and August lows)…
Raw sugar (SB) slid nearly 2.5% yesterday after struggling last week with its weekly Doji just below the 2023 high. SB’s bull market from April 2020 is pausing, although the 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) remains strong overall as seen by the current green monthly candle’s upper shadow having edged above the upper range of the April candle…
