New York Cocoa (CC) edged more than 1.5% higher yesterday with its daily Doji closing back above the psychologically key 4k whole figure level. Nevertheless, odds are elevated for a deeper consolidation going into month end…
Cocoa Daily Nov 17, 2023
Month: November 2023
Coffee Daily Nov 17, 2023
Arabica Coffee (KC) gave back more than 2.5% yesterday on healthy profittaking, closing just above the psychologically key 175 whole figure level. Regardless of yesterday’s slide back below downchannel resistance (on the weekly chart) and the 61.8% Fib retrace of its slide from its 2023 high (formed April), KC remains moderately likely to retest the 2023 high by year end…
Sugar Daily Nov 16, 2023
Raw sugar (SB) edged lower yesterday with its daily Doji, and is 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…
Cocoa Daily Nov 16, 2023
New York Cocoa (CC) edged lower yesterday with a daily Doji just under the psychologically key 4k whole figure level. Odds are elevated for a deeper consolidation going into month end particularly with how overbought CC is on the monthly chart after 6 straight green weekly candles…
Coffee Daily Nov 16, 2023
Arabica Coffee (KC) rebounded nearly 2.5% yesterday from the psychologically key 175 whole figure level. With yesterday’s break above downchannel resistance (on the weekly chart), KC is now back above the 61.8% Fib retrace of its slide from its 2023 high (formed April)…
Sugar Daily Nov 15, 2023
Raw sugar (SB) slid almost 2% yesterday, and is likely to deepen the balance of this week 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 bull market since May 2020 no longer appears likely to resume by year end…
Cocoa Daily Nov 15, 2023
New York Cocoa (CC) slid more than 2.5% yesterday after reaching a fresh 2023 and record intraday high (as can be seen easier on a monthly chart on tradingview.com). The weekly Gravestone trying to form just below upchannel resistance (on the weekly chart) and the psychologically key 4k whole figure level will likely be red after 6 straight green weekly candles…
Coffee Daily Nov 15, 2023
Arabica Coffee (KC) slid more than 1% yesterday on healthy profittaking back to just above the psychologically key 175 whole figure level. Nevertheless, odds remain decent for a weekly close above downchannel resistance (on the weekly chart)…
Sugar Daily Nov 14, 2023
Raw sugar (SB) bounced more than 1.5% yesterday, but is likely to continue this week a healthy consolidation since last Tuesday’s 2023 intraday high. Nevertheless, odds are elevated for a resumption in the bull market since May 2020 by late month…
Cocoa Daily Nov 14, 2023
New York Cocoa (CC) surged more than 1.5% yesterday, closing at a fresh 2023 and record daily high (as can be seen easier on a monthly chart on tradingview.com). After 6 straight green weekly candles with last week’s close at an upchannel resistance (on the weekly chart) and the psychologically key 4k whole figure level yesterday, odds are elevated for a deeper consolidation this week particularly with how overbought CC is on the monthly chart…