New York Cocoa (CC) edged higher Friday but remains vulnerable this week to healthy profittaking after the strong Bull Market extension from the September/October low to last week’s 2023 and record intraday high (as can be seen easier on a monthly chart on tradingview.com). With how CC is overbought on the monthly chart, CC is likely to break this week to below the psychologically key 4k whole figure level…
Arabica Coffee (KC) edged lower Friday, with a 3rd straight weekly Gravestone rejected near the psychologically key 175 whole figure level. Any break above downchannel resistance (on the weekly chart) now appears more likely to defer until at least January…
Gold (GC) edged higher Friday, closing just below triangle resistance (on the weekly chart). With GC nearing the November high and having reclaimed the 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 almost 2% Wednesday and appears like it will need to deepen in its month and a half plus consolidation going into year end (after reopening from the US Thanksgiving holiday). The monthly candle is once again a Gravestone (as seen easier on a monthly chart on tradingview.com), suggesting rising odds (albeit low) for a potential topping of the bull market since May 2020 and at the very least, a healthy multi-month pullback…
New York Cocoa (CC) slid more than 1% Wednesday (ahead of the US Thanksgiving holiday) after failing to hold Tuesday’s fresh 2023 and record intraday high (as can be seen easier on a monthly chart on tradingview.com). CC’s red weekly Doji forming increasingly appears it may become the 1st red weekly candle in 8 weeks…
Arabica Coffee (KC) edged higher Wednesday, closing ahead of the US Thanksgiving holiday once again above the psychologically key 175 whole figure level. Odds are elevated going into month end of a break above downchannel resistance (on the weekly chart)…
Raw sugar (SB) slid almost 2% yesterday and now appears like it will need to deepen in its consolidation since early October going into year end. The monthly candle is once again a Gravestone (as seen easier on a monthly chart on tradingview.com), suggesting rising odds (albeit low) for a potential topping of the bull market since May 2020 and at the very least, a healthy multi-month pullback…
New York Cocoa (CC) slid more than 1% yesterday after failing to hold Tuesday’s fresh 2023 and record intraday high (as can be seen easier on a monthly chart on tradingview.com). CC’s red weekly Doji forming increasingly appears it may become the 1st red weekly candle in 8 weeks…
Arabica Coffee (KC) edged higher yesterday, closing once again above the psychologically key 175 whole figure level. KC is poised to break above downchannel resistance (on the weekly chart) after last week’s brief break and yesterday’s reclaiming of the 61.8% Fib retrace of its slide from its 2023 high (formed April)…
Raw sugar (SB) gained more than 0.5% yesterday and appears to be in the advanced stages of a near two week consolidation (and the consolidation since early October after reaching a 2023 high). With the monthly candle no longer looking like a Gravestone (as seen easier on a monthly chart on tradingview.com), the bull market since May 2020 is increasingly likely to resume before the weekend…
