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Raw sugar (SB) edged lower yesterday just below Monday’s fresh June high (on the October contract). Nevertheless, SB is unlikely to drift back to the 2024 low by month end…
Raw sugar (SB) surged more than 2.5% yesterday forming a fresh June high (on the October contract). SB is unlikely to drift back to the 2024 low by month end. A weekly close above the May high and the psychologically key 20 whole figure level, and a test of descending wedge resistance (on the weekly chart) by early July are now likely…
New York Cocoa (CC) slid a massive 8% plus yesterday (on the September contract), and is now at moderate risk of unravelling the rally from the May low by early July. With CC’s decisive rejection this month from just above the psychologically key 10k whole figure level, CC has all but formed a major top (in April) for the year as opposed to merely be consolidating within a Bull Flag with the already long red June candle body lengthening (as can be seen on a continuous monthly chart on tradingview.com)…
New York Cocoa (CC) edged lower Friday with its daily Doji (on the September contract), closing near the low of the week (formed intraday). With CC’s first red weekly candle in 5 weeks rejected last week just below the psychologically key 10k whole figure level, CC is now at moderate risk of unravelling at least half of the rally from the May low by early July…