New York Cocoa (CC) gained nearly 4.5% Friday to a fresh 2024 and record high. With CC having extended to the daily chart uptrend resistance, odds are moderately high for a reversal by this week sometime back below the psychologically key 8k whole figure level…
Coffee Daily Mar 25, 2024
Arabica Coffee (KC) edged nearly 0.5% lower Friday, but remains positioned to complete the weekly chart Bull Flag consolidation since late December by month end. A higher March low versus the February low is all but certain and would reinforce the bullishness of the higher March high versus the February high…
WTI Crude (CL) Weekly Gravestone Holds Just Above Key 80 Level
WTI Crude (CL) edged lower Friday with a daily Gravestone, completing a weekly Gravestone that was rejected at a fresh 2024 high. Odds appear fairly elevated for a deeper consolidation by mid week to below the psychologically key 80 whole figure level…
Sugar Daily Mar 22, 2024
Raw sugar (SB) gained more than 1% yesterday, with the near complete weekly Hammer now above downchannel resistance (on the weekly chart). SB is once again refusing to extend the slide since late January, with a higher March low versus the December low now all but assured…
Cocoa Daily Mar 22, 2024
New York Cocoa (CC) gained more than 2.5% yesterday to a fresh 2024 and record high. With the near complete weekly Hammer though just below the weekly chart’s steeper upchannel resistance (connecting the February and March highs) and CC tiring near the daily chart uptrend resistance, odds are moderately high for a reversal by next week sometime back below the psychologically key 8k whole figure level…
Coffee Daily Mar 22, 2024
Arabica Coffee (KC) gained more than 1.5% yesterday, and has once again positioned the weekly chart Bull Flag consolidation since late December for a completion by month end. Odds are now moderate for another swing back to the March high sometime before month end…
Sugar Daily Mar 21, 2024
Raw sugar (SB) bounced more than 0.5% yesterday, trying to reclaim downchannel resistance (on the weekly chart). SB is once again refusing to extend the slide since late January, although a higher March low versus the December low remains probable…
Cocoa Daily Mar 21, 2024
New York Cocoa (CC) bounced more than 3.5% yesterday, closing just shy of Monday’s fresh 2024 and record high. With the weekly Hammer forming, odds are moderately high for a reversal by next week back below the weekly chart’s steeper upchannel resistance (connecting the February and March highs) and the daily chart upchannel resistance…
Coffee Daily Mar 21, 2024
Arabica Coffee (KC) edged lower with a daily Doji yesterday, but is not likely to slide to a fresh March low by month end as suggested by the weekly Doji forming. Despite the weekly chart Bull Flag consolidation since late December still tilted slightly lower, odds remain moderate for another swing back to the March high sometime before month end…
Sugar Daily Mar 20, 2024
Raw sugar (SB) reversed more than 2% lower yesterday after getting rejected at downchannel resistance (on the weekly chart). SB is once again vulnerable to extending the slide since late January, although a higher March low versus the December low remains probable…