Raw sugar (SB) slid more than 2.5% lower yesterday, closing just shy of the March low. With SB back below prior downchannel resistance (on the weekly chart), and arguably breaking the upchannel support connecting the lows of 2020 and 2023 as can be seen on a monthly continuous chart on tradingview.com, odds are elevated for SB to form a fresh 2024 low in April…
New York Cocoa (CC) formed a daily Gravestone yesterday (on the July chart) after forming a fresh 2024 and record intraday high just above the psychologically key 10k whole figure level. Nevertheless, with somewhat of a monthly Doji forming (as seen easier on a continuous monthly chart on tradingview.com), CC appears to be in the early stages of exhausting the parabolic bull market extension since February…
Arabica Coffee (KC) soared another more than 2% yesterday to a fresh 2024 high. With last week’s decisive break above the weekly chart Bull Flag consolidation resistance since late December, odds are now elevated for KC to recapture the October 2022 high (as seen easier on a monthly chart at tradingview.com) sometime by month end…
Raw sugar (SB) edged lower yesterday after getting rejected at prior upchannel support (on the 4hr chart). With SB back to prior downchannel resistance (on the weekly chart), odds are elevated for a breaking by next week sometime of the upchannel support connecting the lows of 2020 and 2023 as can be seen on a monthly continuous chart on tradingview.com…
New York Cocoa (CC) soared more than 2% yesterday (on the July chart) to a fresh 2024 and record high. CC appears poised to test by the weekend, the psychologically key 10k whole figure level…
Arabica Coffee (KC) edged more than 1% yesterday, retesting Monday’s fresh 2024 intraday high. With last week’s decisive break above the weekly chart Bull Flag consolidation resistance since late December, and KC in the advanced stages of consolidating near the highest point since October 2022 (as seen easier on a monthly chart at tradingview.com), any further profittaking this week would be orderly and unlikely to reverse back to the psychologically key 2 whole figure level…
Raw sugar (SB) edged lower yesterday with a red daily Doji, closing below upchannel support (on the 4hr chart). With SB back to prior downchannel resistance (on the weekly chart), odds are elevated for a breaking by next week sometime of the upchannel support connecting the lows of 2020 and 2023 as can be seen on a monthly continuous chart on tradingview.com…
New York Cocoa (CC) edged higher yesterday to just shy of last Monday’s fresh 2024 and record high. Although a weekly Doji is beginning to form following last week’s weekly Doji, bears should not rule out a further short squeeze by next week sometime to the psychologically key 10k whole figure level…
Arabica Coffee (KC) gained more than 1% yesterday, closing just shy of Monday’s fresh 2024 intraday high. With last week’s decisive break above the weekly chart Bull Flag consolidation resistance since late December, and KC pulling back from the highest point since October 2022 (as seen easier on a monthly chart at tradingview.com), any further profittaking this week would be orderly and unlikely to reverse back to the psychologically key 2 whole figure level…
Raw sugar (SB) slid nearly 2% yesterday, breaking upchannel support (on the 4hr chart). With SB back to prior downchannel resistance (on the weekly chart), odds are elevated for a breaking by next week sometime of the upchannel support connecting the lows of 2020 and 2023 as can be seen on a monthly continuous chart on tradingview.com…
