Raw sugar (SB) slid more than 2% yesterday on further healthy profittaking going into month end after Wednesday’s fresh 2023 high. SB suddenly appears poised for at least another few weeks of consolidation of the bull market since May 2020…
New York Cocoa (CC) edged lower yesterday on healthy profittaking, consolidating last Friday’s push to a fresh 2023 and record high (as can be seen easier on a monthly chart on tradingview.com). With a red weekly Doji trying to form and CC overbought on the monthly chart, odds are only moderate for an extension higher to upchannel resistance (on the weekly chart) during November…
Arabica Coffee (KC) slid another 1% plus yesterday, but may soon be halting the healthy profittaking from last week’s high as hinted by yesterday’s daily Doji and the weekly Doji trying to form. Odds are moderate for a resumption by late week of the 2 week plus rebound off just above the 2023 low and for a retest of downchannel resistance (on the weekly chart)…
Raw sugar (SB) rebounded more than 1% Friday, closing the week just shy of the 2023 high. SB is moderately likely to further extend the bull market since May 2020 by mid November…
New York Cocoa (CC) surged more than 1% Friday, closing the week at a fresh 2023 and record high (as can be seen easier on a monthly chart on tradingview.com). CC is now moderately likely to test upchannel resistance (on the weekly chart) this week…
Arabica Coffee (KC) edged lower Friday completing a daily and weekly red Gravestone. The 2 week plus rebound off just above the 2023 low has stalled at downchannel resistance (on the weekly chart), but will likely resume by early November…
Gold (GC) formed a daily Gravestone Friday with its weekly Hammer consolidating the prior week’s decisive break above downchannel resistance (on the weekly chart). With GC testing the August high and psychologically key 2000 whole figure level, GC is near complete in its Bull Flag consolidation since August 2020 (as can be seen more easily on a monthly chart on tradingview.com)…
Raw sugar (SB) slid more than 2% yesterday, and is poised to complete a 4th straight weekly Hammer or Gravestone. W has for the past month been consolidating after forming a fresh 2023 high, remaining moderately likely to further extend the bull market since May 2020 by year end…
New York Cocoa (CC) surged more than 2% yesterday forming a fresh 2023 and record high (as can be seen easier on a monthly chart on tradingview.com). CC is now moderately likely to test upchannel resistance (on the weekly chart) by month end…
Arabica Coffee (KC) edged lower yesterday with its daily Doji. The 2 week plus rebound off just above the 2023 low has stalled at downchannel resistance (on the weekly chart), but will likely resume by early November…
