Raw sugar (SB) edged more than 0.5% lower yesterday, but remains moderately likely to spend the next few weeks trying to neutralize the slide since late January. Any weekly close above downchannel resistance (on the weekly chart) will likely result in a higher March low versus the December low…
New York Cocoa (CC) surged more than 5% yesterday to another fresh 2024 and record high. With yesterday’s burst intraday to the weekly chart’s steeper upchannel resistance (connecting the February and March highs), and to the daily chart upchannel resistance, consolidation is likely going into next week…
Arabica Coffee (KC) bounced more than 0.5% yesterday off triangle support (on the weekly chart). Any close going into the weekend back above the 4hr chart downchannel resistance will all but neutralize the still slightly bearish tilt of the weekly chart Bull Flag consolidation since late December…
Raw sugar (SB) formed a daily Hammer yesterday, but remains moderately likely to spend the next few weeks trying to neutralize the slide since late January. Any weekly close above downchannel resistance (on the weekly chart) will likely result in a higher March low versus the December low…
New York Cocoa (CC) edged lower yesterday with its daily Gravestone after Tuesday’s fresh 2024 and record high. With yesterday’s hesitation just above the psychologically key 7k whole figure level at the weekly chart’s steeper upchannel resistance (connecting the February and March highs), a further short squeeze to the daily chart upchannel resistance by the weekend is unlikely…
Arabica Coffee (KC) slid more than 1.5% yesterday, once again appearing moderately vulnerable to forming a fresh March low before month end. Any clawing back above the 4hr chart downchannel resistance though will neutralize the now slightly bearish tilt of the weekly chart Bull Flag consolidation since late December…
Raw sugar (SB) edged lower yesterday with a daily Doji, but remains moderately likely to spend the next few weeks in trying to neutralize the slide since late January. Any break above downchannel resistance (on the weekly chart) will likely result in a higher March low versus the December low…
New York Cocoa (CC) rebounded another near 5% yesterday to a fresh 2024 and record high. With yesterday’s close above the psychologically key 7k whole figure level, a further short squeeze to the daily chart upchannel resistance is moderately likely by the weekend…
Arabica Coffee (KC) edged nearly 0.5% higher yesterday with its daily Gravestone, clawing back above the 4hr chart downchannel resistance intraday. KC appears close to completing its healthy profittaking after Thursday’s bullish break intraday above the Bull Flag consolidation resistance since late December (on the weekly chart)…
Raw sugar (SB) rebounded more than 3.5% yesterday, beginning to neutralize the slide since late January. Any break above downchannel resistance (on the weekly chart) will likely result in a higher March low versus the December low…
