Arabica Coffee (KC) edged more than 0.5% lower Friday, but remains on pace to halting in the next week or so, the consolidation since late December from extending below the January low. Odds are fairly decent for a reclaiming of the 2023 high (formed in December on the March and continuous contract as seen easier on a monthly chart at tradingview.com) and the psychologically key 2 whole figure level by April…
Gold (GC) surged nearly 2% Friday, ending February at its month’s high and nearing the 2024 high formed early January. GC is now testing a Bull Flag consolidation resistance since August 2020 (as seen easier on a monthly chart on tradingview.com) which it had broke briefly above in December, and appears poised to extend the Bull Flag higher in March…
Raw sugar (SB) slid more than 4% yesterday (on the May contract), and once again appears to be vulnerable to testing an upchannel support connecting the lows of 2020 and 2023 as can be seen on a monthly continuous chart on tradingview.com. With the weekly Gravestone having failed to hold above the 38.2% Fib retrace of the December slide, and SB closing the month near the February low, odds are elevated for a test of the December low sometime in March…
New York Cocoa (CC) edged nearly 1% higher yesterday, but remains vulnerable to extending the reversal next week from Monday’s fresh 2024 and record high. With CC sliding back into the weekly chart upchannel after briefly this past week surging above its resistance, bulls are best prepared for the elevated probability of a deeper pullback by mid March to last week’s low…
Arabica Coffee (KC) gained nearly 1.5% yesterday, and appears to want to halt the consolidation since late December from extending below the January low. Regardless, with Tuesday’s fresh February intraday low, a reclaiming of the 2023 high (formed in December on the March and continuous contract as seen easier on a monthly chart at tradingview.com) and the psychologically key 2 whole figure level will likely have to defer until at least April…
Raw sugar (SB) edged higher with a daily Doji yesterday (on the May contract), and increasingly appears to have halted the consolidation from the January high. With SB having clawed back above the 38.2% Fib retrace of the December slide, it no longer appears likely ahead of the weekend to resume a prior dowchannel (on the weekly chart)…
New York Cocoa (CC) slid more than 7% yesterday extending the reversal from Monday’s fresh 2024 and record high. With CC sliding back into the weekly chart upchannel after briefly this past week surging above its resistance, bulls are best prepared for the elevated probability of a deeper pullback by mid March to last week’s low…
Arabica Coffee (KC) edged more than 0.5% lower with a daily Hammer yesterday, but with the near complete weekly green Doji forming, appears to want to halt the consolidation since late December from extending below the January low. Regardless, with Tuesday’s fresh February intraday low, a reclaiming of the 2023 high (formed in December on the March and continuous contract as seen easier on a monthly chart at tradingview.com) and the psychologically key 2 whole figure level will likely have to defer until at least April…
Raw sugar (SB) gained another 2% plus yesterday (on the May contract), making progress in halting the consolidation from the January high. With SB having clawed back above the 38.2% Fib retrace of the December slide, it no longer appears likely ahead of the weekend to resume a prior dowchannel (on the weekly chart)…
New York Cocoa (CC) slid more than 1.5% yesterday after Monday’s fresh 2024 and record high. Although CC may very well squeeze higher in the next few days, bulls are best prepared for the elevated probability of a deeper pullback by next week sometime to the psychologically key 6k whole figure level…
