Raw sugar (SB) rebounded more than 1.5% yesterday, closing just below the 50% Fib retrace of the December slide. After the strong 3 week bounce off the psychologically key 20 whole figure level, odds are elevated for more consolidation this week as suggested by the weekly Hammer forming…
New York Cocoa (CC) gained more than 1.5% yesterday, retesting last Tuesday’s fresh record intraday high. Nevertheless, with how overbought CC is on the monthly chart (as seen easier on tradingview.com), and CC bumping against what is arguably a weekly chart upchannel resistance, odds are moderate and rising for a swing back to the same upchannel’s support by late February…
Arabica Coffee (KC) gained more than 2.5% yesterday after bumping up intraday against triangle resistance (on the daily chart). KC is poised to extend by the weekend a Bull Flag (on the weekly chart) to the psychologically key 2 whole figure level, and to test the 2023 high (formed in December on the March and continuous contract as seen easier on a monthly contract tradingview.com) by next week sometime…
Raw sugar (SB) slid more than 1% yesterday on further healthy profittaking, closing just below the 50% Fib retrace of the December slide. After the strong 3 week bounce off the psychologically key 20 whole figure level, odds are elevated for more consolidation this week…
New York Cocoa (CC) gained more than 1% yesterday, closing just shy of Tuesday’s fresh record intraday high. Nevertheless, with how overbought CC is on the monthly chart (as seen easier on tradingview.com), and last week’s weekly Gravestone, odds are moderately high for a swinging back to upchannel support (on the weekly chart) by late February…
Arabica Coffee (KC) slid more than 2% yesterday after bumping up against triangle resistance (on the daily chart). Nevertheless, KC remains poised to attempt this week to resume a Bull Flag (on the weekly chart)…
New York Cocoa (CC) bounced more than 1% Friday, closing just shy of Tuesday’s fresh record intraday high. Nevertheless, with how overbought CC is on the monthly chart (as seen easier on tradingview.com), and last week’s weekly Gravestone, odds are moderately high for a swinging back to upchannel support (on the weekly chart) by mid February…
Raw sugar (SB) slid more than 1% Friday on further healthy profittaking, closing just below the 50% Fib retrace of the December slide. After the strong 3 week bounce off the psychologically key 20 whole figure level, odds are elevated for more consolidation this week…
Arabica Coffee (KC) surged more than 3.5% Friday, closing just shy of triangle resistance (on the daily chart). With Friday’s close back above the near month long downchannel resistance (on the 4hr chart), KC appears like it’ll try early week to resume a Bull Flag (on the weekly chart)…
WTI Crude (CL) edged another near 1% higher Friday, completing a month plus bottoming effort around the psychologically key 70 whole figure level. The bigger picture is of CL is trying to form a higher major low (formed December) versus the March and May low…
