Sugar Daily Apr 19, 2024

Raw sugar (SB) edged higher with a daily Doji yesterday for its 1st green daily candle in 10 days. Despite yesterday’s bounce off Wednesday’s fresh 2024 low and the lowest level since January 2023, SB has decisively broken the upchannel support connecting the lows of 2020 and 2023 as can be seen on a monthly continuous chart on tradingview.com with odds elevated for a test of the 50% Fib retrace of the April 2020 to March 2023 bull market top by month end…

Coffee Daily Apr 19, 2024

Arabica Coffee (KC) pulled back more than 3% yesterday (on the July contract) from a fresh 2024 intraday high. Although bullish momentum can be expected to remain strong over the next few months (as seen easier on a monthly chart at tradingview.com), odds are elevated for further healthy consolidation going into early next week to below upchannel support (on the 4hr chart) after getting rejected around the August 2022 high…

Sugar Daily Apr 18, 2024

Raw sugar (SB) slid another 1% plus yesterday for its 9th straight red daily candle. With yesterday’s fresh 2024 low at the lowest level since January 2023, SB has decisively broken the upchannel support connecting the lows of 2020 and 2023 as can be seen on a monthly continuous chart on tradingview.com…

Cocoa Daily Apr 18, 2024

New York Cocoa (CC) bounced more than 2.5% yesterday (on the July contract) after a bit of healthy profittaking from Monday’s fresh 2024 and record high. Nevertheless, bulls should be prepared for some further healthy consolidation back below the psychologically key 10k whole figure level going into early next week…

Coffee Daily Apr 18, 2024

Arabica Coffee (KC) surged more than 4.5% yesterday (on the July contract) to a fresh 2024 high. Although bullish momentum can be expected to remain strong over the next few months (as seen easier on a monthly chart at tradingview.com), odds are rising for healthy consolidation to kick in by early next week with KC bumping up against what is arguably upchannel resistance (on the 4hr chart) and nearing the August 2022 high…

Coffee Daily Apr 17, 2024

Arabica Coffee (KC) edged higher yesterday (on the July contract) to a fresh 2024 high. Although bullish momentum can be expected to remain strong over the next few months (as seen easier on a monthly chart at tradingview.com), odds are rising for healthy consolidation to kick in by late week with KC bumping up against what is arguably upchannel resistance (on the weekly and daily chart)…