Sugar Daily Jun 12, 2024

Raw sugar (SB) edged more than 0.5% higher yesterday with its daily Doji (on the July contract) trying to avoid sliding back to the 2024 low. Nevertheless, with a weekly Doji also trying to form just above descending wedge support (on the weekly chart), SB’s bounce off just above May’s 2024 low has tired and may be merely short covering from the lowest level since November 2022…

Coffee Daily Jun 12, 2024

Arabica Coffee (KC) edged lower with a daily Doji yesterday (on the July contract) consolidating deeper after briefly breaking above May’s high Thursday. Although KC is likely to further its healthy profittaking ahead of the weekend, odds remain moderate for a recapture of the 2024 high and extension of the upchannel (on the weekly chart) by early Q3…

Sugar Daily Jun 11, 2024

Raw sugar (SB) slid nearly 2% yesterday (on the July contract) closing once again near the 2024 low. With SB retesting descending wedge support (on the weekly chart), its bounce off just above May’s 2024 low appears to be tiring and may be merely short covering from the lowest level since November 2022…

Cocoa Daily Jun 11, 2024

New York Cocoa (CC) slid more than 2% yesterday (on the July contract) on healthy profittaking after Monday’s fresh June high. With yesterday’s rejection at the psychologically key 10k whole figure level, CC’s red June candle is suddenly becoming a Gravestone (as can be seen on a continuous monthly chart on tradingview.com)…

Coffee Daily Jun 11, 2024

Arabica Coffee (KC) slid more than 1% yesterday (on the July contract) consolidating deeper after briefly breaking above May’s high Thursday. Although KC is likely to further its healthy profittaking today, odds remain moderate for a recapture of the 2024 high and extension of the upchannel (on the weekly chart) by early Q3…

Sugar Daily Jun 10, 2024

Raw sugar (SB) slid more than 1% Friday (on the July contract) for the 1st red daily candle in 6 days. Although SB has reclaimed descending wedge support (on the weekly chart) in its bounce off just above May’s 2024 low, it may be merely short covering from the lowest level since November 2022…

Coffee Daily Jun 10, 2024

Arabica Coffee (KC) slid more than 3.5% Friday (on the July contract) reversing lower after briefly breaking above May’s high Thursday. Although KC is likely to deepen in its consolidation early week, odds remain moderate for a recapture of the 2024 high and extension of the upchannel (on the weekly chart) sometime in June…