Coffee Daily Nov 10, 2022

Arabica Coffee (KC) slid nearly 1% yesterday, with its daily Gravestone closing at a fresh 2022 low at descending wedge/downtrend support (on the weekly chart). Nevertheless, odds are rising for a bounce back above the 4hr chart downchannel resistance and descending wedge resistance (on the daily chart) in the next day or so, which would coincide with a rebound off the weekly chart descending wedge resistance…

Coffee Daily Nov 9, 2022

Arabica Coffee (KC) slid more than 2% yesterday, closing at a fresh 2022 low at descending wedge/downtrend support (on the weekly chart). Nevertheless, odds are rising for a bounce back above the 4hr chart downchannel resistance and descending wedge resistance (on the daily chart) in the next day or so, which would coincide with a rebound off the weekly chart descending wedge resistance.

Coffee Daily Nov 8, 2022

Arabica Coffee (KC) slid almost 3% yesterday, with its daily Gravestone closing below the psychologically key 1.75 whole figure level and forming a fresh intraday 2022 low. Nevertheless, odds are elevated for a break above the 4hr chart downchannel resistance and descending wedge resistance (on the daily chart) in the next day or so with high likelihood for a bounce in the next week or so off the weekly chart descending wedge support…

Coffee Daily Nov 7, 2022

Arabica Coffee (KC) rebounded more than 2% Friday, forming a daily Doji just above the psychologically key 1.75 whole figure level. Any break above the 4hr chart downchannel resistance and descending wedge resistance (on the daily chart) in the next day or so would strongly reinforce last week’s weekly Gravestone bounce off just above the weekly chart downtrend support…

Coffee Daily Nov 4, 2022

Arabica Coffee (KC) slid a massive 5% plus yesterday, closing back below the psychologically key 1.75 whole figure level. With KC trying to form a weekly Gravestone at the weekly chart downtrend support, odds are still decent for a bounce next week back above the 50% Fib of the June 2020 to February 2022 bull market (near 1.775)…

Coffee Daily Oct 31, 2022

Arabica Coffee (KC) slid a massive 5% plus Friday, closing at another fresh 2022 low. With last week’s break below the weekly chart descending wedge/downtrend support and the 50% Fib of the June 2020 to February 2022 bull market (near 1.775, odds are high for KC to test the 61.8% Fib (near 1.58) by November sometime. Any reclaiming of downchannel support (on the daily chart) will likely coincide with a break above the 4hr chart descending wedge resistance…