Arabica Coffee (KC) edged another 1% lower yesterday after reopening from the US Independence Day holiday. Although KC closed yesterday near the June low, the weekly Doji trying to form suggests traders may want to attempt this shortened week to halt the slide from the 2023 high…
Category: Coffee Daily
Coffee Daily Jul 5, 2023
Arabica Coffee (KC) edged up Monday on some short covering ahead of the US Independence Day holiday, suggesting traders may want to attempt this shortened week to halt the slide from the 2023 high. Any break above downchannel resistance (on the 4hr chart) today would coincide with KC recapturing the March low and the 61.8% Fib retrace of the January to April bounce…
Coffee Daily Jul 4, 2023
Arabica Coffee (KC) edged up yesterday on some short covering ahead of the US Independence Day holiday, suggesting traders may want to attempt this shortened week to halt the slide from the 2023 high. Any break above downchannel resistance (on the 4hr chart) Wednesday would coincide with KC recapturing the March low and the 61.8% Fib retrace of the January to April bounce…
Coffee Daily Jul 3, 2023
Arabica Coffee (KC) slid another 1.5% plus Friday, closing further below the March low and the 61.8% Fib retrace of the January to April bounce. Regardless of the increasing odds for a few days of short covering in this shortened US Independence Day holiday week, KC remains vulnerable to extend by next week the downchannel (on the 4hr chart) and overshoot to the downside with a test of the psychologically key 1.50 whole figure level…
Coffee Daily Jun 30, 2023
Arabica Coffee (KC) formed a daily Doji yesterday, and is near complete on a weekly Doji, suggesting a potential overshot to the downside with the fresh June low yesterday. Any monthly close above the March low and the 61.8% Fib retrace of the January to April bounce, will likely coincide with a break above downchannel resistance (on the 4hr chart)…
Coffee Daily Jun 29, 2023
Arabica Coffee (KC) slid almost 3% yesterday, closing just above downchannel support (on the 4hr and daily chart). KC appears to have overshot to the downside with a fresh June low yesterday just below the March low and the 61.8% Fib retrace of the January to April bounce…
Coffee Daily Jun 28, 2023
Arabica Coffee (KC) edged higher yesterday, closing just above descending wedge support (on the daily chart). KC appears to have overshot to the downside with it trying to bounce back from a fresh June low yesterday just below the March low…
Coffee Daily Jun 27, 2023
Arabica Coffee (KC) edged higher yesterday, forming the 1st green daily candle in 6 days after closing at a fresh June low below the March low. KC appears to have overshot to the downside with it having slipped slightly below descending wedge support (on the daily chart) and the 61.8% Fib retrace of the January to April bounce…
Coffee Daily Jun 26, 2023
Arabica Coffee (KC) slid more than 3% Friday, closing at a fresh June low below the March low. With KC decisively below the upchannel support (on the weekly chart), KC is no longer likely to reclaim the psychologically key 2 whole figure level and the 2023 high (formed in April) until at least August…
Coffee Daily Jun 23, 2023
Arabica Coffee (KC) edged lower yesterday, closing at a fresh June low below the May low. With KC decisively below the upchannel support (on the weekly chart), KC is now moderately likely to retest the March low by month end…