New York Cocoa (CC) slid more than 2.5% yesterday, and is vulnerable to deeper healthy profittaking by mid month 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…
Arabica Coffee (KC) slid more than 0.5% yesterday, closing at upchannel support (on the daily chart) after briefly breaking below it intraday. 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…
Raw sugar (SB) edged higher Friday, continuing 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…
New York Cocoa (CC) slid more than 1% Friday, and is vulnerable to deeper healthy profittaking this week as it closed last week below upchannel resistance (on the weekly chart) after overshooting above it in December. 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 sometime in January…
Arabica Coffee (KC) slid nearly 1.5% Friday, testing upchannel support (on the daily chart). The healthy profittaking from near the psychologically key 2 whole figure level appears vulnerable to extending this week, but should find strong support on any further pullback to the December low…
Happy 2024! Hope you’ve enjoyed the holiday season. The S&P500 (ES) edged higher Friday from the July high, but remains vulnerable going into this week after forming the 1st red weekly candle in 10 weeks. With ES having arguably been rejected by upchannel resistance (on the weekly chart), odds are moderate and rising for a swing back to upchannel support sometime in Q1 (despite December’s record high as can be seen more easily on a monthly chart on tradingview.com)…
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) 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…
