Raw sugar (SB) edged lower yesterday, remaining just above the psychologically key 20 whole figure level and the 76.4% Fib retrace of the 2023 bull market extension. Any weekly close 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…
New York Cocoa (CC) edged nearly 1% lower yesterday, increasingly vulnerable to healthy profittaking with this week’s weekly Doji unable to reclaim upchannel resistance (on the weekly chart) and December’s record high. With overbought conditions on the monthly chart (as can be seen on tradingview.com), odds are high for a swinging back to below the psychologically key 4k whole figure level going into mid January…
Arabica Coffee (KC) slid more than 2% yesterday, testing upchannel support (on the daily chart). The healthy profittaking from near the psychologically key 2 whole figure level appears vulnerable to extending going into next week, but should find strong support on any further pullback to the December low…
Raw sugar (SB) rebounded more than 1.5% in the first trading day for 2024, edging further above the psychologically key 20 whole figure level and the 76.4% Fib retrace of the 2023 bull market extension. Any weekly close 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…
New York Cocoa (CC) rebounded nearly 1.5% on 2024’s first trading day of the year, closing just shy of December’s record high. Nevertheless, despite CC trying to reclaim upchannel resistance (on the weekly chart), with overbought conditions on the monthly chart (as can be seen on tradingview.com), odds remain high for a swinging back to below the psychologically key 4k whole figure level going into mid January…
Arabica Coffee (KC) edged nearly 1% higher in yesterday’s first trading day of the year, trying to halt Friday’s healthy profittaking from near the psychologically key 2 whole figure level. Odds are elevated for a retest of December’s fresh 2023 high (on the March contract) by mid January…
Raw sugar (SB) slid a massive 5% plus in the final trading day for 2023, closing just above the psychologically key 20 whole figure level and the 76.4% Fib retrace of the 2023 bull market extension. Any weekly close 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…
New York Cocoa (CC) slid nearly 1.5% in 2023’s final trading day of the year after forming a record high earlier in the holiday-shortened week. Last week’s red weekly candle closed back below what is arguably upchannel resistance (on the weekly chart) together with overbought conditions on the monthly chart (as can be seen on tradingview.com), suggest elevated odds for a swinging back to below the psychologically key 4k whole figure level going into mid January…
Arabica Coffee (KC) slid near 5% in Friday’s final trading day of the year, with healthy profittaking kicking in after the 2023 fresh high the prior week just above the psychologically key 2 whole figure level. Nevertheless, odds are elevated for a retest of December’s fresh 2023 high (on the March contract) by early January…
Raw sugar (SB) bounced a massive 5.5% plus yesterday, holding just above the psychologically key 20 whole figure level and the 76.4% Fib retrace of the 2023 bull market extension. Nevertheless, with SB having briefly this holiday shortened week made a fresh December low below the June low and slightly below the 38.2% Fib retrace of the bull market since May 2020 (as seen easier on a monthly continuous chart on tradingview.com), odds remain somewhat more likely that SB has ended a major bull market than it is to retest the record high (formed Feb 2011) before Q224…
