Coffee Daily May 29, 2024

Arabica Coffee (KC) bounced more than 5% (on the July contract) yesterday after reopening from the US Memorial Day holiday. With KC’s bounce off the May low regaining momentum, regardless of any healthy consolidation today, odds are elevated for a recapture of the 2024 high by early June…

Sugar Daily Apr 18, 2024

Raw sugar (SB) slid another 1% plus yesterday for its 9th straight red daily candle. With yesterday’s fresh 2024 low at the lowest level since January 2023, SB has decisively broken the upchannel support connecting the lows of 2020 and 2023 as can be seen on a monthly continuous chart on tradingview.com…

Cocoa Daily Apr 12, 2024

New York Cocoa (CC) formed a daily Gravestone yesterday (on the July chart) after forming a fresh 2024 and record intraday high just above the psychologically key 10k whole figure level. Nevertheless, with somewhat of a monthly Doji forming (as seen easier on a continuous monthly chart on tradingview.com), CC appears to be in the early stages of exhausting the parabolic bull market extension since February…

Sugar Daily Apr 1, 2024

Raw sugar (SB) surged nearly 1.5% Thursday ahead of the Good Friday long weekend and end of Q1. With SB’s decisive break last week above downchannel resistance (on the weekly chart), SB increasingly appears likely to hold in April the upchannel support connecting the lows of 2020 and 2023 as can be seen on a monthly continuous chart on tradingview.com…

Coffee Daily Mar 6, 2024

Arabica Coffee (KC) gained roughly 2% yesterday, and remains on pace to halting in the next week or so, the consolidation since late December from extending below the January low. Odds are fairly decent for a reclaiming of the 2023 high (formed in December on the March and continuous contract as seen easier on a monthly chart at tradingview.com) and the psychologically key 2 whole figure level by April…

Cocoa Daily Jan 22, 2024

New York Cocoa (CC) edged higher yesterday with a daily Doji, eking out a 7th straight up day. Although C closed yesterday at a fresh record high above the 2023 high, with how overbought C is on the monthly chart (as seen easier on tradingview.com), odds are moderately high for a swinging back to below upchannel support (on the weekly chart) by February sometime…

Sugar Daily Jan 16, 2024

Raw sugar (SB) edged more than 0.5% lower Friday (ahead of the US Martin Luther King Jr holiday), with the 3 week bounce off the psychologically key 20 whole figure level and the 76.4% Fib retrace of the 2023 bull market extension tiring. Any weekly close below the 38.2% Fib retrace of the bull market since May 2020 (as seen easier on a monthly continuous chart on tradingview.com) will dramatically increase the likelihood that SB has ended a major bull market…

Sugar Daily Dec 29, 2023

Raw sugar (SB) bounced a massive 5.5% plus yesterday, holding just above the psychologically key 20 whole figure level and the 76.4% Fib retrace of the 2023 bull market extension. Nevertheless, with SB having briefly this holiday shortened week made a fresh December low below the June low and slightly below the 38.2% Fib retrace of the bull market since May 2020 (as seen easier on a monthly continuous chart on tradingview.com), odds remain somewhat more likely that SB has ended a major bull market than it is to retest the record high (formed Feb 2011) before Q224…

Silver (SI) Nearing Key 25 Level Going into 2024

Seasons Greetings! Silver (SI) edged lower Friday on healthy consolidation going into the holiday shortened final week of 2023. With SI back above a major triangle/downtrend resistance connecting the April 2011 and February 2021 highs (as can be seen easier on a monthly chart on tradingview.com), odds are elevated for an end to the year back above downchannel resistance (on the weekly chart) and the psychologically key 25 whole figure level…