New York Cocoa (CC) surged more than 4.5% yesterday to a fresh 2023 and record intraday high (as can be seen easier on a monthly chart on tradingview.com). With CC struggling though to form an 8th straight green weekly candle (as seen by the current weekly Hammer), odds are elevated for a deeper consolidation going into month end…
Arabica Coffee (KC) edged lower with a daily Doji yesterday, closing just above the psychologically key 175 whole figure level. Nevertheless, with the break yesterday above downchannel resistance (on the weekly chart), it remains poised for a reclaiming of the 61.8% Fib retrace of its slide from its 2023 high (formed April)…
Raw sugar (SB) bounced more than 1% yesterday and suddenly 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 becoming less like a Gravestone (as seen easier on a monthly chart on tradingview.com), the soonest the bull market since May 2020 resumes is December…
New York Cocoa (CC) edged more than 1% lower yesterday with its red daily Doji. With a red weekly Doji trying to form after 7 straight green weekly candles, odds are elevated for a deeper consolidation going into month end…
Arabica Coffee (KC) surged 4% plus yesterday, closing just below downchannel resistance (on the weekly chart) and the 61.8% Fib retrace of its slide from its 2023 high (formed April). Regardless of another day or so of healthy profittaking, with yesterday’s reclaiming of the psychologically key 175 whole figure level, KC remains moderately likely to retest the 2023 high by year end…
Raw sugar (SB) edged lower Friday with its 3rd straight daily Doji, and remains likely to deepen the balance of this month in its healthy consolidation since last this month’s 2023 intraday high. With the monthly Gravestone forming (as seen easier on a monthly chart on tradingview.com), the soonest the bull market since May 2020 resumes is early next year…
New York Cocoa (CC) surged nearly 2% Friday, closing comfortably above the psychologically key 4k whole figure level near last Tuesday’s fresh 2023 and record intraday high (as can be seen easier on a monthly chart on tradingview.com). Nevertheless, odds are elevated for a deeper consolidation going into month end with CC overbought on the monthly chart and after completing a 7th straight green weekly candle at what is arguably upchannel resistance (on the weekly chart)…
Arabica Coffee (KC) gave back nearly 3% Friday on healthy profittaking, closing the week with a red weekly Gravestone that failed to hold above downchannel resistance (on the weekly chart) and the 61.8% Fib retrace of its slide from its 2023 high (formed April). Nevertheless, after what will likely be another day or so of weakness, odds remain elevated for KC to firm and to attempt a reclaim of the psychologically key 175 whole figure level by late week…
The EURUSD edged higher Friday, resuming its bounce off the 2023 low (arguably a Bull Flag on the daily chart). Although the EURUSD is likely to pause early week as it bumps against the 4hr chart ascending wedge/upchannel resistance, odds are elevated for a break by late week above the September high to the psychologically key 1.10 whole figure level…
Raw sugar (SB) edged higher yesterday with its daily Doji, but remains likely to deepen the balance of this month in its healthy consolidation since last Tuesday’s 2023 intraday high. With the monthly Gravestone forming (as seen easier on a monthly chart on tradingview.com), the soonest the bull market since May 2020 resumes is early next year…
