Arabica Coffee (KC) bounced nearly 2% yesterday, trying to halt the consolidation since late December from extending below the January low. Regardless, with yesterday’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) bounced more than 1.5% yesterday (on the May contract) but remains at elevated risk ahead of the weekend of deepening the consolidation from the January high. SB has given up its 38.2% Fib retrace of the December slide, and is somewhat vulnerable to resuming a prior dowchannel (on the weekly chart)…
New York Cocoa (CC) surged more than 4.5% yesterday to a fresh 2024 and record intraday high. Although CC may very well squeeze higher in the next few days, bulls are best prepared for the moderate probability of a pullback by the weekend to the psychologically key 6k whole figure level…
Arabica Coffee (KC) edged lower yesterday and is likely to extend the consolidation since late December going into Q2. With yesterday’s fresh February 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…
