Arabica Coffee (KC) slid more than 2.5% yesterday with the red weekly Doji trying to hold descending wedge support (on the weekly chart). KC will need a weekly weekly close above this month’s high to neutralize the slide from the April high…
Month: September 2023
Sugar Daily Sep 7, 2023
Raw sugar (SB) reversed more than 1.5% yesterday after breaking to a fresh 2023 high Tuesday. Regardless, with SB still comfortably above the psychologically key 25 whole figure level, SB’s bull market from April 2020 to April 2023 is likely to continue extending by mid month…
Cocoa Daily Sep 7, 2023
New York Cocoa (CC) formed a daily Doji/Gravestone yesterday, hesitating just shy of Tuesday’s fresh 2023 high. Nevertheless, odds remain moderately high for CC to extend its upchannel (on the weekly chart) and test upchannel resistance by mid September….
Coffee Daily Sep 7, 2023
Arabica Coffee (KC) edged higher yesterday with the weekly Hammer testing descending wedge resistance (on the weekly chart). Any weekly close above the psychologically key 1.50 whole figure level will greatly neutralize the slide from the April high…
Sugar Daily Sep 6, 2023
Raw sugar (SB) surged more than 3% yesterday, breaking to a fresh 2023 high after reopening from the US Labor Day long weekend. With SB now comfortably above the psychologically key 25 whole figure level, SB’s bull market from April 2020 to April 2023 is extending….
Cocoa Daily Sep 6, 2023
New York Cocoa (CC) edged more than 1% higher yesterday, closing just shy of a fresh 2023 high. Odds are now elevated for CC to extend its upchannel (on the weekly chart) and test upchannel resistance by mid September….
Coffee Daily Sep 6, 2023
Arabica Coffee (KC) bounced more than 1% yesterday with a weekly Hammer testing descending wedge resistance (on the weekly chart). Any weekly close above the psychologically key 1.50 whole figure level will greatly neutralize the slide from the April high…
Sugar Daily Sep 5, 2023
Raw sugar (SB) surged a near 3% Friday ahead of the US Labor Day long weekend. With SB closing the week decisively above the psychologically key 25 whole figure level, SB’s bull market from April 2020 to April 2023 appears ready to resume in this holiday-shortened week…
Cocoa Daily Sep 5, 2023
New York Cocoa (CC) edged nearly 1% lower Friday after briefly forming a fresh 2023 intraday high Thursday. Despite the elevated odds for more healthy consolidation once CC reopens from the US Labor long weekend, CC remains likely to extend its upchannel (on the weekly chart) and test upchannel resistance by mid September…
Coffee Daily Sep 5, 2023
Arabica Coffee (KC) slid more than 1.5% Friday with last week’s weekly Hammer getting rejected at descending wedge resistance (on the weekly chart). KC appears to be at moderate risk of retesting the August low in this US Labor Day holiday-shortened week…