New York Cocoa (CC) surged nearly 3% yesterday (on the July contract), retesting the June high. Odds are now elevated for a weekly close above the psychologically key 10k whole figure level…
Cocoa Daily Jun 7, 2024
Month: June 2024
Coffee Daily Jun 7, 2024
Arabica Coffee (KC) formed a daily Gravestone yesterday (on the July contract) reversing lower after briefly breaking above May’s high. Odds remain elevated for a recapture of the 2024 high and extension of the upchannel (on the weekly chart) sometime in June…
Sugar Daily Jun 6, 2024
Raw sugar (SB) surged nearly 1.5% yesterday (on the July contract), gaining for a 4th straight day in its bounce off just above May’s 2024 low. Although SB has now reclaimed descending wedge support (on the weekly chart), it may be merely short covering from the lowest level since November 2022…
Cocoa Daily Jun 6, 2024
New York Cocoa (CC) formed a 2nd straight daily Doji yesterday (on the July contract) consolidating Monday’s break above the May high. Nevertheless, odds remain moderate for a daily close by the weekend above the psychologically key 10k whole figure level…
Coffee Daily Jun 6, 2024
Arabica Coffee (KC) formed a daily Hammer yesterday (on the July contract), closing just shy of May’s high. Odds remain elevated for a recapture of the 2024 high and extension of the upchannel (on the weekly chart) by early next week…
Sugar Daily Jun 5, 2024
Raw sugar (SB) edged nearly 0.5% higher yesterday (on the July contract), continuing the bounce off just above May’s 2024 low. Although SB has now reclaimed descending wedge support (on the weekly chart), it may be merely short covering from the lowest level since November 2022…
Cocoa Daily Jun 5, 2024
New York Cocoa (CC) edged lower yesterday (on the July contract) consolidating Monday’s break above the May high. Nevertheless, odds remain moderate for a daily close by the weekend above the psychologically key 10k whole figure level…
Coffee Daily Jun 5, 2024
Arabica Coffee (KC) surged 2% plus yesterday (on the July contract), closing just shy of May’s high. Odds are now elevated for a recapture of the 2024 high and extension of the upchannel (on the weekly chart) before the weekend…
Sugar Daily Jun 4, 2024
Raw sugar (SB) gained more than 2.5% yesterday (on the July contract), trying to bounce off just above May’s 2024 low. Although SB has now reclaimed descending wedge support (on the weekly chart), it may be merely short covering from the lowest level since November 2022…
Cocoa Daily Jun 4, 2024
New York Cocoa (CC) gained more than 1.5% yesterday (on the July contract) breaking above the May high. Nevertheless, with yesterday’s intraday reversal lower after briefly testing the psychologically key 10k whole figure level, the tentative monthly Gravestone’s upper shadow is lengthening (as can be seen on a continuous monthly chart on tradingview.com)…