Sugar Daily Jun 14, 2024

Raw sugar (SB) gained nearly 3% yesterday (on the October contract) on growing momentum on the bounce off the 2024 low. Any reclaiming of the May high and the psychologically key 20 whole figure level will dramatically increase the likelihood of a test of descending wedge resistance (on the weekly chart) in the few days after…

Cocoa Daily Jun 14, 2024

New York Cocoa (CC) edged lower yesterday (on the September contract) with the daily Gravestone reversing after forming a fresh June intraday high. The psychologically key 10k whole figure level may have capped the rally from the May low for June, with further healthy consolidation likely for next week…

Coffee Daily Jun 14, 2024

Arabica Coffee (KC) edged nearly 1% higher yesterday with a Daily Gravestone (on the July contract) trying to halt the consolidation from May’s high last Thursday. Although KC may see further healthy profittaking ahead of the weekend, odds remain moderate for a recapture of the 2024 high and extension of the upchannel (on the weekly chart) by early Q3…

Coffee Daily Jun 13, 2024

Arabica Coffee (KC) rebounded nearly 2% yesterday (on the July contract) trying to halt the consolidation from May’s high last Thursday. Although KC may see further healthy profittaking ahead of the weekend, odds remain moderate for a recapture of the 2024 high and extension of the upchannel (on the weekly chart) by early Q3…

Sugar Daily Jun 12, 2024

Raw sugar (SB) edged more than 0.5% higher yesterday with its daily Doji (on the July contract) trying to avoid sliding back to the 2024 low. Nevertheless, with a weekly Doji also trying to form just above descending wedge support (on the weekly chart), SB’s bounce off just above May’s 2024 low has tired and may be merely short covering from the lowest level since November 2022…

Coffee Daily Jun 12, 2024

Arabica Coffee (KC) edged lower with a daily Doji yesterday (on the July contract) consolidating deeper after briefly breaking above May’s high Thursday. Although KC is likely to further its healthy profittaking ahead of the weekend, odds remain moderate for a recapture of the 2024 high and extension of the upchannel (on the weekly chart) by early Q3…