Cocoa Daily Dec 8, 2023

New York Cocoa (CC) rebounded more than 1.5% higher yesterday, but remains vulnerable to deepening in its consolidation going into Xmas after forming last Thursday a fresh 2023 and record high (as can be seen easier on a monthly chart on tradingview.com). CC was rejected last week at upchannel resistance (on the weekly chart) and is ready for a healthy correction on the strong Bull Market extension from the September/October low…

Sugar Daily Dec 7, 2023

Raw sugar (SB) slid a massive more than 7.5% yesterday, closing back below the August low to near the July low. With SB suddenly testing the 23.6% Fib retrace of the bull market since May 2020 (as seen easier on a monthly chart on tradingview.com) near 23, SB could bounce on short-covering going into the weekend…

Cocoa Daily Dec 7, 2023

New York Cocoa (CC) edged almost 0..5% higher yesterday, but remains vulnerable to deepening in its consolidation going into mid month after forming Thursday a fresh 2023 and record high (as can be seen easier on a monthly chart on tradingview.com). CC has been rejected at upchannel resistance (on the weekly chart) and is ready for a strong correction on the strong Bull Market extension from the September/October low…

Sugar Daily Dec 6, 2023

Raw sugar (SB) slid more than 3% yesterday, closing back below the psychologically key 25 whole figure level and October low. The weekly Gravestone suddenly forming appears increasingly like a Bear Flag with rising odds for the December candle to lengthen and retest by January sometime, the 23.6% Fib retrace of the bull market since May 2020 (as seen easier on a monthly chart on tradingview.com) near 23…

Cocoa Daily Dec 6, 2023

New York Cocoa (CC) slid more than 1.5% yesterday, deepening in its consolidation after forming Thursday a fresh 2023 and record high (as can be seen easier on a monthly chart on tradingview.com). CC is vulnerable going into mid December to further healthy profittaking after the strong Bull Market extension from the September/October low…

Sugar Daily Dec 5, 2023

Raw sugar (SB) bounced almost 3% yesterday, closing back above the psychologically key 25 whole figure level and October low after briefly breaking below it. The monthly Hammer suddenly forming suggests now low odds for the December candle to lengthen and retest by January sometime, the 23.6% Fib retrace of the bull market since May 2020 (as seen easier on a monthly chart on tradingview.com) near 23…