New York Cocoa (CC) edged lower yesterday with a daily Hammer and the 1st red daily candle in 9 days. Although CC closed Friday at a fresh record high further extending above the 2023 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…
Arabica Coffee (KC) surged nearly 4% yesterday, halting the month plus consolidation from the 2023 high in December. The healthy profittaking from near the psychologically key 2 whole figure level found support around the December low…
New York Cocoa (CC) edged higher yesterday with a daily Doji, eking out a 7th straight up day. Although C closed yesterday at a fresh record high above the 2023 high, with how overbought C 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…
Raw sugar (SB) surged more than 2% yesterday, and has now 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 to kick in early week…
Arabica Coffee (KC) surged nearly 3% Friday, making good progress in halting the month plus consolidation from the 2023 high in December. The healthy profittaking from near the psychologically key 2 whole figure level appears to have found support around the December low…
Raw sugar (SB) surged more than 3% yesterday, reclaiming half of the April to November 2023 Bull Market extension. 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 to kick in by early next week…
New York Cocoa (CC) edged higher yesterday with a daily Doji, eking out a 7th straight up day. Although C closed yesterday at a fresh record high above the 2023 high, with how overbought C 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…
Arabica Coffee (KC) edged up with its daily Hammer yesterday, showing early signs of trying to halt the month plus consolidation from the 2023 high in December. The healthy profittaking from near the psychologically key 2 whole figure level appears to be finding support around the December low…
WTI Crude (CL) slid nearly 1% Friday, continuing 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…
Raw sugar (SB) slid more than 0.5% yesterday on healthy profittaking with the 3 week bounce off the psychologically key 20 whole figure level and the 76.4% Fib retrace of the 2023 bull market extension having reversed a third of the December slide. Any weekly close below the 38.2% Fib retrace of the bull market since May 2020 (as seen easier on a monthly continuous chart on tradingview.com) is now unlikely for the balance of January…
