Raw sugar (SB) reversed more than 2% lower yesterday after getting rejected at downchannel resistance (on the weekly chart). SB is once again vulnerable to extending the slide since late January, although a higher March low versus the December low remains probable…
New York Cocoa (CC) reversed nearly 2% yesterday after failing to recapture Monday’s fresh 2024 and record high. With yesterday’s red daily Doji and the red weekly Doji forming, odds are moderately high for a reversal by the weekend back below the weekly chart’s steeper upchannel resistance (connecting the February and March highs) and the daily chart upchannel resistance…
Arabica Coffee (KC) bounced more than 0.5% yesterday, with the weekly Doji forming suggesting an unwillingness for the weekly chart Bull Flag consolidation since late December to tilt much lower. Odds are now moderate for another swing back to the March high sometime before month end…
Raw sugar (SB) consolidated yesterday with a daily Doji, closing the week at downchannel resistance (on the weekly chart). SB increasingly appears likely to spend the next few weeks trying to neutralize the slide since late January, with a higher March low versus the December low probable…
New York Cocoa (CC) gained a near 2% yesterday to another fresh 2024 and record high. However, with yesterday’s daily Doji/Hammer and the weekly Doji forming, CC will likely by next week reverse back below the weekly chart’s steeper upchannel resistance (connecting the February and March highs) and the daily chart upchannel resistance…
Arabica Coffee (KC) edged more than 0.5% lower yesterday, closing the week near triangle support (on the weekly chart). The weekly chart Bull Flag consolidation since late December appears it will now need at least another month before potentially resolving to the upside…
Raw sugar (SB) rebounded more than 1.5% Friday, closing the week at downchannel resistance (on the weekly chart). SB increasingly appears likely to spend the next few weeks trying to neutralize the slide since late January, with a higher March low versus the December low probable…
New York Cocoa (CC) surged a massive more than 8% Friday to another fresh 2024 and record high. With Friday’s burst above the weekly chart’s steeper upchannel resistance (connecting the February and March highs), and to the daily chart upchannel resistance, healthy consolidation is likely this week…
Arabica Coffee (KC) edged nearly 0.5% lower Friday, closing the week near triangle support (on the weekly chart). KC is still arguably slightly bearish in its weekly chart Bull Flag consolidation since late December…
The S&P500 (ES) slid more than 0.5% Friday, consolidating further as seen by last week’s second straight weekly Doji near the 2024 high. ES is looking increasingly fatigued and near completion on what is arguably an ascending wedge (on the weekly chart)…
