New York Cocoa (CC) surged another more than 2.5% yesterday, forming a fresh 2024 and record high. Nevertheless, with how overbought CC is on the monthly chart (as seen easier on tradingview.com), and CC testing what could become 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) formed a green daily Doji yesterday, hesitating just below triangle resistance (on the daily chart). Nevertheless, odds are moderately high for an extension by next week sometime a Bull Flag (on the weekly chart) to the psychologically key 2 whole figure level, and to break above the 2023 high (formed in December on the March and continuous contract as seen easier on a monthly contract tradingview.com) by mid February…
Raw sugar (SB) gained nearly 1% yesterday, reclaiming the 50% Fib retrace of the December slide. Although SB appears likely to resume by next week its strong bounce off the psychologically key 20 whole figure level, odds are elevated for more consolidation ahead of the weekend as suggested by the weekly Doji forming…
New York Cocoa (CC) edged higher 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 nearing 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) formed a daily Doji yesterday, hesitating just below triangle resistance (on the daily chart). Nevertheless, KC remains poised to extend by early next week 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 late next week…
