The USDCHF edged higher Friday, adding to Thursday’s strong rebound off the June low. Last week’s green weekly Hammer may just have halted the healthy correction towards the March low…
USDCHF Healthy Consolidation from 2024 High Near Complete
Month: June 2024
Sugar Daily Jun 21, 2024
Raw sugar (SB) hesitated yesterday with its daily Gravestone reversing from near the June high (on the October contract). Nevertheless, SB does not appear likely for now to drift back to the 2024 low by month end…
Cocoa Daily Jun 21, 2024
New York Cocoa (CC) slid more than 5% yesterday (on the September contract), closing near the low of the week (formed intraday). CC will all but form its first red weekly candle in 5 weeks after being rejected last week at the psychologically key 10k whole figure level and failing yesterday to reclaim prior upchannel support (on the 4hr chart)…
Coffee Daily Jun 21, 2024
Arabica Coffee (KC) edged more than 1% higher yesterday, hesitating though as seen by the daily Gravestone’s reversal from just shy of the June high. Nevertheless, KC appears to be in the advanced stages of a Bull Flag consolidation from the June high…
Sugar Daily Jun 20, 2024
Raw sugar (SB) edged lower Tuesday (on the October contract) ahead of the Juneteenth US holiday, and appears vulnerable the balance of this week to drifting further towards the 2024 low. Nevertheless, any reclaiming of the May high and the psychologically key 20 whole figure level (albeit only moderately likely by month end for now) will dramatically increase the likelihood of a test of descending wedge resistance (on the weekly chart) in the few days after…
Cocoa Daily Jun 20, 2024
New York Cocoa (CC) edged higher Tuesday (on the September contract) ahead of the US Juneteenth holiday, but remains vulnerable to sliding back today below upchannel support (on the 4hr chart). The June high Thursday may very well hold for the balance of the month with CC unable to close Friday above the psychologically key 10k whole figure level…
Coffee Daily Jun 20, 2024
Arabica Coffee (KC) edged lower Tuesday (on the September contract) ahead of the US Juneteenth holiday, but continues to appear to be in the advanced stages of a Bull Flag consolidation from the June high. Odds are now moderate for a recapture of the 2024 high and extension of the upchannel (on the weekly chart) by early Q3…
Sugar Daily Jun 19, 2024
Raw sugar (SB) edged lower yesterday (on the October contract), and appears vulnerable this week to drifting further towards the 2024 low. Nevertheless, any reclaiming of the May high and the psychologically key 20 whole figure level (albeit only moderately likely by month end for now) will dramatically increase the likelihood of a test of descending wedge resistance (on the weekly chart) in the few days after…
Cocoa Daily Jun 19, 2024
New York Cocoa (CC) edged higher yesterday (on the September contract), but remains vulnerable to sliding back today below upchannel support (on the 4hr chart). The June high Thursday may very well hold for the balance of the month with CC unable to close Friday above the psychologically key 10k whole figure level…
Coffee Daily Jun 19, 2024
Arabica Coffee (KC) edged lower yesterday (on the September contract), but continues to appear to be in the advanced stages of a Bull Flag consolidation from the June high. Odds are now moderate for a recapture of the 2024 high and extension of the upchannel (on the weekly chart) by early Q3…