Raw sugar (SB) slid more than 1.5% yesterday on healthy profittaking, closing near the 50% Fib retrace of the December slide. Given the strength of the 3 week bounce off the psychologically key 20 whole figure level, odds are elevated for healthy profittaking by early next week…
Month: January 2024
Cocoa Daily Jan 26, 2024
New York Cocoa (CC) slid more than more than 3% yesterday from near Tuesday’s fresh record intraday high. The strong reversal in this week’s weekly Gravestone suggests a high likelihood of further profittaking by early next week…
Coffee Daily Jan 26, 2024
Arabica Coffee (KC) slid another more than 1% yesterday after getting rejected Wednesday at triangle resistance (on the daily chart). Nevertheless, with Tuesday’s break above the near month long downchannel resistance (on the 4hr chart), KC appears like it’ll try by next week sometime to resume a Bull Flag (on the weekly chart)…
Sugar Daily Jan 25, 2024
Raw sugar (SB) edged more than 1% higher yesterday, with the weekly Doji forming near the 50% Fib retrace of the December slide. Given the strength of the 3 week bounce off the psychologically key 20 whole figure level, odds remain moderately high for healthy profittaking this week…
Cocoa Daily Jan 25, 2024
New York Cocoa (CC) still managed to gain more than 1.5% yesterday despite its daily Hammer sharply reversing after a fresh record high. With how overbought CC is on the monthly chart (as seen easier on tradingview.com), odds are moderately high for a swinging back to below upchannel support (on the weekly chart) by February sometime…
Coffee Daily Jan 25, 2024
Arabica Coffee (KC) edged higher yesterday with a daily Hammer closing at triangle resistance (on the daily chart). KC has ended the near month long downchannel (on the 4hr chart) and appears poised to resume a Bull Flag (on the weekly chart)…
Sugar Daily Jan 24, 2024
Raw sugar (SB) edged more than 1% higher yesterday, with the weekly Doji forming near the 50% Fib retrace of the December slide. Given the strength of the 3 week bounce off the psychologically key 20 whole figure level, odds remain moderately high for healthy profittaking this week…
Cocoa Daily Jan 24, 2024
New York Cocoa (CC) still managed to gain more than 1.5% yesterday despite its daily Hammer sharply reversing after a fresh record high. With how overbought CC is on the monthly chart (as seen easier on tradingview.com), odds are moderately high for a swinging back to below upchannel support (on the weekly chart) by February sometime…
Coffee Daily Jan 24, 2024
Arabica Coffee (KC) edged higher yesterday with a daily Hammer closing at triangle resistance (on the daily chart). KC has ended the near month long downchannel (on the 4hr chart) and appears poised to resume a Bull Flag (on the weekly chart)…
Sugar Daily Jan 23, 2024
Raw sugar (SB) edged lower yesterday with a red daily Doji, and appears poised to consolidate this week after having reversed roughly half of the December slide. Given the strength of the 3 week bounce off the psychologically key 20 whole figure level, odds are rising and moderately high for healthy profittaking this week…