New York Cocoa (CC) formed a red daily Hammer yesterday and appears vulnerable this week to resuming the healthy profittaking from last Monday’s fresh 2024 and record high. Although a red weekly Gravestone is beginning to form following last week’s weekly Doji, bears should not rule out a further short squeeze this week to the psychologically key 10k whole figure level…
Arabica Coffee (KC) slid more than 0.5% yesterday on healthy profittaking from a fresh 2024 intraday high. With last week’s decisive break above the weekly chart Bull Flag consolidation resistance since late December, and KC pulling back from the highest point since October 2022 (as seen easier on a monthly chart at tradingview.com), any further profittaking this week would be orderly and unlikely to reverse back to the psychologically key 2 whole figure level…
Raw sugar (SB) slid more than 1.5% Friday, and is vulnerable to breaking upchannel support (on the 4hr chart) by early week. SB no longer appears likely to reclaim the 50% Fib retrace of the slide from the November high to the December low by mid April…
New York Cocoa (CC) bounced more than 3.5% Friday but remains vulnerable this week to resuming the healthy profittaking from Monday’s fresh 2024 and record high. With last week’s weekly Doji to start Q2, any breaking of uptrend support (on the 4hr chart) would likely coincide with rejection this week at the psychologically key 10k whole figure level…
Arabica Coffee (KC) surged more than 2.5% Friday to a fresh 2024 high. With last week’s decisive break above the weekly chart Bull Flag consolidation resistance since late December, and at the highest point since October 2022 (as seen easier on a monthly chart at tradingview.com), any profittaking early week would be healthy and unlikely to reverse back to the psychologically key 2 whole figure level…
Silver (SI) surged Friday with a daily Hammer, breaking to the highest level since June 2021. SI has in the past week decisively broken the downtrend resistance line connecting the April 2011 and February 2021 highs (as can be seen easier on a monthly chart on tradingview.com)…
Raw sugar (SB) edged higher yesterday on a daily Doji, but remains vulnerable to testing its upchannel support (on the 4hr chart) by early next week. Nevertheless, odds are decent for a reclaiming of the 50% Fib retrace of the slide from the November high to the December low by mid April…
New York Cocoa (CC) edged more than 0.5% lower yesterday on healthy profittaking, further reversing after Monday’s fresh 2024 and record high. With CC near completion on the first red weekly candle in 4 weeks to start Q2, CC is vulnerable to a deepening consolidation next week particularly with what appears to be an imminent breaking of uptrend support (on the 4hr chart) and the rejection this week at the psychologically key 10k whole figure level…
Arabica Coffee (KC) edged higher yesterday with its daily Hammer, closing near a fresh 2024 high. With this week’s decisive break above the weekly chart Bull Flag consolidation resistance since late December, and at the highest point since October 2022 (as seen easier on a monthly chart at tradingview.com), any profittaking going into early next week would be healthy and likely to find strong support on any dip back to the psychologically key 2 whole figure level…
Raw sugar (SB) edged lower yesterday on healthy profittaking as seen by its red daily Doji. SB appears likely to test its upchannel support (on the 4hr chart) by early next week…
