New York Cocoa (CC) surged more than 3.5% higher yesterday to a fresh 2024 and record high, but appears increasingly vulnerable to a sharp reversal by next week sometime after 9 straight green daily candles. Any sudden pullback should find initial support around the psychologically key 5k whole figure level…
Arabica Coffee (KC) bounced more than 1% yesterday, and appears to be nearing completion of the consolidation since late December. KC is less likely in February to slide back to the January low, than to extend back to Bull Flag resistance (on the weekly chart) or to the psychologically key 2 whole figure level…
Raw sugar (SB) edged higher with a daily Hammer yesterday, with odds decent for a reclaiming by the weekend of the 50% Fib retrace of the December slide. Nevertheless, with the still red weekly candle bumping against dowchannel resistance (on the weekly chart), the soonest SB resumes its strong bounce off the psychologically key 20 whole figure level is likely next week…
New York Cocoa (CC) edged more than 0.5% higher yesterday to a fresh 2024 and record high, but appears vulnerable to a reversal by the weekend to the psychologically key 5k whole figure level as suggested by yesterday’s daily Hammer. With how overbought CC is on the monthly chart (as seen easier on tradingview.com), and CC near what could become a weekly chart upchannel resistance, odds are moderate for a swing back to the same upchannel’s support by late February…
Arabica Coffee (KC) slid more than 0.5% yesterday, and is vulnerable to further consolidation ahead of the weekend. Nevertheless, KC appears less likely before in February to slide back to the January low, than to extend back to Bull Flag resistance (on the weekly chart) or to the psychologically key 2 whole figure level…
New York Cocoa (CC) surged more than 3.5% higher yesterday from the psychologically key 5k whole figure level, forming a fresh 2024 and record high. Nevertheless, with how overbought CC is on the monthly chart (as seen easier on tradingview.com), and CC nearing what could become a weekly chart upchannel resistance, odds are moderate for a swing back to the same upchannel’s support by late February…
Raw sugar (SB) slid more than 1.5% yesterday, closing just below the 50% Fib retrace of the December slide. With the red weekly candle forming and yesterday’s rejection at dowchannel resistance (on the weekly chart), the soonest SB resumes its strong bounce off the psychologically key 20 whole figure level is likely next week…
Arabica Coffee (KC) slid more than 1% yesterday, but is in the early process of trying to form a weekly Doji just below last week’s weekly Doji. KC appears unwilling to slide back to the January low, but an extension back to Bull Flag resistance (on the weekly chart) or to the psychologically key 2 whole figure level isn’t likely before mid month…
Raw sugar (SB) rebounded more than 1% Friday, closing just below the 50% Fib retrace of the December slide. Although SB appears likely to resume by late week its strong bounce off the psychologically key 20 whole figure level, SB may consolidate another day or so early week before breaking above dowchannel resistance (on the weekly chart)…
New York Cocoa (CC) edged more than 1% higher Friday to the psychologically key 5k whole figure level, forming a fresh 2024 and record high. Nevertheless, with how overbought CC is on the monthly chart (as seen easier on tradingview.com), and CC testing what could become a weekly chart upchannel resistance, odds are moderate and rising for a swing back to the same upchannel’s support by late February…
