Sugar Daily Jan 12, 2024

Raw sugar (SB) edged more than 1.5% higher yesterday, extending the bounce off the psychologically key 20 whole figure level and the 76.4% Fib retrace of the 2023 bull market extension. Any weekly close though (albeit unlikely this week) below the 38.2% Fib retrace of the bull market since May 2020 (as seen easier on a monthly continuous chart on tradingview.com) will dramatically increase the likelihood that SB has ended a major bull market…

Cocoa Daily Jan 12, 2024

New York Cocoa (CC) surged another more than 1.5% yesterday, closing once again near upchannel resistance (on the weekly chart). With how overbought C is on the monthly chart (as seen easier on tradingview.com), odds are high for a swinging back to below the psychologically key 4k whole figure level by late month…

Sugar Daily Jan 11, 2024

Raw sugar (SB) slid more than 1% lower yesterday, consolidating the bounce off the psychologically key 20 whole figure level and the 76.4% Fib retrace of the 2023 bull market extension. Any weekly close though below the 38.2% Fib retrace of the bull market since May 2020 (as seen easier on a monthly continuous chart on tradingview.com) will dramatically increase the likelihood that SB has ended a major bull market…

Cocoa Daily Jan 11, 2024

New York Cocoa (CC) gained another more than 1% yesterday, but remains vulnerable to resumed healthy profittaking by next week sometime to upchannel support (on the weekly chart). With how C is tiring from overbought levels on the monthly chart (as seen easier on tradingview.com), odds are high for a swinging back to below the psychologically key 4k whole figure level by late month…

Sugar Daily Jan 10, 2024

Raw sugar (SB) edged lower yesterday, consolidating the bounce off the psychologically key 20 whole figure level and the 76.4% Fib retrace of the 2023 bull market extension. Any weekly close though (albeit unlikely) below the 38.2% Fib retrace of the bull market since May 2020 (as seen easier on a monthly continuous chart on tradingview.com) will dramatically increase the likelihood that SB has ended a major bull market…

Cocoa Daily Jan 10, 2024

New York Cocoa (CC) rebounded more than 1.5% yesterday, but remains vulnerable to resumed healthy profittaking by early next week to upchannel support (on the weekly chart). With how C is tiring from overbought levels on the monthly chart (as seen easier on tradingview.com), odds are high for a swinging back to below the psychologically key 4k whole figure level by mid month…

Coffee Daily Jan 10, 2024

Arabica Coffee (KC) bounced nearly 1.5% yesterday, trying to halt the consolidation from the 2023 high in December. The healthy profittaking from near the psychologically key 2 whole figure level is only slightly vulnerable to materially extending this week, but should find strong support on any further pullback to the December low…