Arabica Coffee (KC) pulled back more than 1% yesterday on healthy profittaking, consolidating Wednesday’s surge to a fresh 2022 high (above the 2021 peak). Significantly, KC’s decisive resumption of the weekly chart upchannel/uptrend this week suggests high odds for a test of upchannel/uptrend resistance before month end…
Arabica Coffee (KC) tacked on more than 2% yesterday, closing near the January high. Significantly, KC closed at downchannel resistance (on the daily chart) and has bounced off the weekly chart uptrend support…
Arabica Coffee (KC) consolidated the upchannel (on the 4hr chart) yesterday closing where KC may form a 2nd data point to a triangle/downchannel resistance (on the daily chart). Significantly, KC appears poised to break above last week’s high, with high odds for a retest of the 2021 peak sometime in January…
Arabica Coffee (KC) surged another 2% plus Tuesday, closing at a fresh 2021 high. Significantly, regardless of an increasingly likely test of upchannel resistance (on the weekly chart) by early next year, odds are fairly high for healthy profittaking when KC reopens following the US Thanksgiving holiday break, as KC bumps up against ascending wedge resistance (on the 4hr chart) and uptrend resistance (on the daily chart)…
Arabica Coffee (KC) soared nearly 3.5% higher yesterday, closing at the November high. Significantly, KC appears to finally be breaking out of the hesitation of the past month given the length of the current green weekly candle body in contrast to the length of the upper shadows of the prior 4 weekly candles, each rejecting below the 2021 high…
Arabica Coffee (KC) edged lower yesterday, forming a second straight daily Doji near the psychologically key 2.10 whole figure level. Significantly, despite the consolidation since Tuesday, KC remains around last week’s high and still has momentum in its bounce off upchannel support (on the weekly chart)…
Arabica Coffee (KC) formed a daily Doji yesterday, closing at prior upchannel resistance (on the daily chart). Significantly, although KC is vulnerable to more consolidation today, KC remains within a few day’s volatility of retesting the 2021 high, with odds high for extending the weekly chart Bull Flag in the next week…
Arabica Coffee (KC) rallied more than 3% yesterday, breaking above triangle resistance (on the 4hr chart). Significantly, with yesterday’s surge, KC is suddenly at the daily chart triangle resistance, and testing the downtrend resistance (on the weekly chart) connecting the July and September highs…
Arabica Coffee (KC) edged almost 1% higher yesterday, and is in the advanced stages of consolidating Tuesday’s break above triangle resistance (on the 4hr and daily chart). Significantly, with Robusta Coffee (RC) likely to form a fresh 2021 high by next week sometime, KC is poised to play a bit of catch up and strengthen its bounce off the 38.2% Fib retrace of the November to July rally extension…
Arabica Coffee (KC) gained almost 1.5% yesterday, posting its 4th straight green daily candle and making progress in the week plus effort to halt the slide from the July peak (and highest level since October 2014). Significantly, KC has rebounded off the 38.2% Fib retrace of the November to July rally extension, and has a moderate likelihood of retesting the 2021 high before month end…
