New York Cocoa (CC) rebounded another 5% yesterday to a fresh 2024 and record high. Odds are suddenly elevated for a further short squeeze to the psychologically key 7k whole figure level and the daily chart upchannel resistance this week…
Coffee Daily Mar 12, 2024
Arabica Coffee (KC) edged lower yesterday with its daily Hammer, consolidating just under the 4hr chart downchannel resistance. 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)…
Sugar Daily Mar 11, 2024
Raw sugar (SB) edged more than 0.5% lower Friday (on the May contract), and is vulnerable to testing the December low sometime by late March despite last week’s green weekly Doji. Odds are moderately high for a decisive break sometime in the next week or so below upchannel support connecting the lows of 2020 and 2023 as can be seen on a monthly continuous chart on tradingview.com…
Cocoa Daily Mar 11, 2024
New York Cocoa (CC) edged nearly 1% lower Friday, consolidating further after Monday’s fresh 2024 and record high. With last week’s red weekly Gravestone rejected at the weekly chart’s steeper upchannel resistance (connecting the February and March highs), odds are now low for a short squeeze further to the daily chart upchannel resistance this week…
Coffee Daily Mar 11, 2024
Arabica Coffee (KC) sharply reversed more than 3.5% Friday after bullishly breaking at one point Thursday above the Bull Flag consolidation since late December (on the weekly chart). Despite Friday’s strong profittaking, Thursday’s break above the 4hr chart downchannel resistance maintains decent odds 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 sometime in March…
Gold (GC) Gains 8th Straight Day to Fresh Record High
Gold (GC) gained nearly 1% Friday for its 8th straight green daily candle, closing the week just shy of Friday’s fresh 2024 and record high. GC has broken above a Bull Flag resistance since August 2020 (as seen easier on a monthly chart on tradingview.com) and is poised to extend the Bull Flag higher in much of the next few months…
Sugar Daily Mar 8, 2024
Raw sugar (SB) edged more than 0.5% lower yesterday (on the May contract), and is vulnerable to testing the December low sometime in March despite the green weekly Doji/Hammer trying to complete. Odds are moderately high for a decisive break sometime in the next week or so below upchannel support connecting the lows of 2020 and 2023 as can be seen on a monthly continuous chart on tradingview.com…
Cocoa Daily Mar 8, 2024
New York Cocoa (CC) edged nearly 1.5% lower yesterday, consolidating further after Monday’s fresh 2024 and record high. With a red weekly Gravestone forming, odds are now low for a short squeeze further to the daily chart upchannel resistance by mid month…
Coffee Daily Mar 8, 2024
Arabica Coffee (KC) surged more than 3% yesterday, bullishly breaking at one point yesterday above the Bull Flag consolidation since late December (on the weekly chart). Yesterday’s break above the 4hr chart downchannel resistance dramatically increases odds 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 sometime in March…
Sugar Daily Mar 7, 2024
Raw sugar (SB) bounced more than 1% yesterday (on the May contract), but remains vulnerable to testing the December low in the next few weeks. SB appears to be on the brink of decisively breaking below upchannel support connecting the lows of 2020 and 2023 as can be seen on a monthly continuous chart on tradingview.com…