New York Cocoa (CC) edged lower yesterday just below a fresh 2023 and record high. The current red weekly candle forming along what is arguably upchannel resistance (on the weekly chart) suggests elevated odds for further healthy consolidation going into early January…
Arabica Coffee (KC) edged higher yesterday, but appears poised to consolidate in this year’s final trading day around the psychologically key 2 whole figure level. Nevertheless, odds are elevated for a retest of last Tuesday’s fresh 2023 high (on the March contract) by early January…
Raw sugar (SB) edged higher with a green daily Doji 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 more likely that SB has ended a major bull market than it is to retest the record high (formed Feb 2011) before Q224…
New York Cocoa (CC) edged lower yesterday just below a fresh 2023 and record high. The current red weekly Doji forming along what is arguably upchannel resistance (on the weekly chart) suggests elevated odds for healthy consolidation going into year end…
Arabica Coffee (KC) gained another 1.5% plus yesterday, trying to extend the upchannel (on the 4hr and daily chart). Odds are elevated for a retest of last Tuesday’s fresh 2023 high (on the March contract) by early January…
Raw sugar (SB) edged lower yesterday, testing intraday the psychologically key 20 whole figure level just above the 76.4% Fib retrace of the 2023 bull market extension. With SB at 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 are quite a bit higher that SB has ended a major bull market than it is to retest the record high (formed Feb 2011) before Q224…
New York Cocoa (CC)’s red daily Doji edged more than 0.5% lower yesterday just below a fresh 2023 and record high. The current red weekly Doji forming along what is arguably upchannel resistance (on the weekly chart) suggests elevated odds for healthy consolidation going into year end…
Arabica Coffee (KC) edged nearly 1% higher yesterday, trying to extend the upchannel (on the 4hr and daily chart). Odds are elevated for a retest of last Tuesday’s fresh 2023 high (on the March contract) by early January…
Seasons Greetings! Silver (SI) edged lower Friday on healthy consolidation going into the holiday shortened final week of 2023. With SI back above a major triangle/downtrend resistance connecting the April 2011 and February 2021 highs (as can be seen easier on a monthly chart on tradingview.com), odds are elevated for an end to the year back above downchannel resistance (on the weekly chart) and the psychologically key 25 whole figure level…
Raw sugar (SB) slid more than 3% yesterday, nearing the 76.4% Fib retrace of the 2023 bull market extension and the psychologically key 20 whole figure level. With SB at a fresh December low below the June low, and SB 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 are quite a bit higher that SB has ended a major bull market than it is to retest the record high (formed Feb 2011) before Q224…
