Raw sugar (SB) bounced almost 3% yesterday, closing back above the psychologically key 25 whole figure level and October low after briefly breaking below it. The monthly Hammer suddenly forming suggests now low odds for the December candle to lengthen and retest by January sometime, the 23.6% Fib retrace of the bull market since May 2020 (as seen easier on a monthly chart on tradingview.com) near 23…
New York Cocoa (CC) slid more than 0.5% yesterday, deepening in its consolidation after forming Thursday a fresh 2023 and record high (as can be seen easier on a monthly chart on tradingview.com). CC is vulnerable going into mid December to further healthy profittaking after the strong Bull Market extension from the September/October low…
Arabica Coffee (KC) slid more than 2.5% yesterday, finding support on its daily Hammer near the 61.8% Fib retrace of its slide from its 2023 high (formed April) just above the psychologically key 175 whole figure level. Although odds are moderate for KC to slide further in the next few days to upchannel support (on the 4hr chart), KC is unlikely to fall and stay below downchannel resistance (on the weekly chart) for more than a week or so…
Raw sugar (SB) slid more than 3.5% Friday, closing around the October low after briefly breaking below it. Odds are moderate and rising for the newly forming red December candle to lengthen and retest by January sometime, the 23.6% Fib retrace of the bull market since May 2020 (as seen easier on a monthly chart on tradingview.com) near 23…
New York Cocoa (CC) slid more than 1.5% Friday after forming Thursday a fresh 2023 and record high (as can be seen easier on a monthly chart on tradingview.com). CC is vulnerable going into mid December to deeper healthy profittaking after the strong Bull Market extension from the September/October low…
Arabica Coffee (KC) edged lower Friday with a daily Doji/Hammer, hesitating after overshooting above upchannel resistance (on the 4hr chart). Regardless of any further healthy consolidation early week, odds are fairly low this week for a slide back to the 4hr chart upchannel support…
The GBPUSD surged nearly 100 pips from Friday’s low to high, trying to extend its upchannel (on the 4hr chart). The Bull Flag (on the daily chart) though is tiring as the GBPUSD bumps against the 61.8% Fib retrace of the Jun 2021 to Sep 2022 slide (as can be seen more easily on a monthly chart on tradingview.com)…
Raw sugar (SB) slid more than 3% yesterday and is vulnerable to retesting the October low before year end. The red November candle is bearishly engulfing the October one (as seen easier on a monthly chart on tradingview.com) suggesting rising (and currently moderately low) odds for a topping of the bull market since May 2020 and at the very least, a healthy multi-month pullback…
New York Cocoa (CC) edged higher to a fresh 2023 and record high (as can be seen easier on a monthly chart on tradingview.com). Nevertheless, CC remains vulnerable going into mid December to healthy profittaking after the strong Bull Market extension from the September/October low…
Arabica Coffee (KC) soared a massive near 7% yesterday after reclaiming the psychologically key 175 whole figure level. KC is suddenly testing the 76.4% Fib retrace of its slide from its 2023 high (formed April) and comfortably above downchannel resistance (on the weekly chart)…
