Arabica Coffee (KC) surged more than 1.5% yesterday, closing further above the 76.4% Fib retrace of its slide from its 2023 high (formed April). With yesterday’s fresh December high, odds are dramatically higher for a retest of the 2023 high (on the March contract) by year end…
Raw sugar (SB) edged higher yesterday with a daily Hammer, showing early signs of trying to halt the slide since the 2023 high. Regardless of yesterday’s break below the June low, and SB having broken below the 23.6% Fib retrace of the bull market since May 2020 (as seen easier on a monthly continuous chart on tradingview.com) near 23, SB appears to be trying to bounce off the 61.8% Fib retrace of the 2023 bull market extension (near 21.5)…
New York Cocoa (CC) edged higher yesterday, but remains vulnerable to healthy consolidation going into Xmas with the current red weekly Doji hesitating at a 2023 and record high (as can be seen easier on a monthly chart on tradingview.com). After 10 straight up weeks off the September/October low, and with how overbought CC is on the monthly chart, the probability of a swing sometime before year end to below the psychologically key 4k whole figure level is moderately high…
Arabica Coffee (KC) gained more than 0.5% yesterday, closing just above the 76.4% Fib retrace of its slide from its 2023 high (formed April). Odds are now elevated for a reclaiming of the December high by the weekend, which would dramatically increase odds of a retest of the 2023 high (on the March contract) by year end…
Raw sugar (SB) slid more than 3.5% yesterday, and is vulnerable to testing the June low before Xmas. With SB having broken below the 23.6% Fib retrace of the bull market since May 2020 (as seen easier on a monthly continuous chart on tradingview.com) near 23, odds are elevated for further weakness to the 61.8% Fib retrace of the 2023 bull market extension (near 21.5)…
New York Cocoa (CC) gave up nearly 1.5% yesterday, getting rejected near its 2023 and record high (as can be seen easier on a monthly chart on tradingview.com). CC is exhausting after its strong Bull Market extension from the September/October low…
Arabica Coffee (KC) surged almost 4% yesterday from just above the psychologically key 175 whole figure level to decisively above the 61.8% Fib retrace of its slide from its 2023 high (formed April). Any reclaiming of the December high by Xmas will dramatically increase odds of a retest of the 2023 high (on the March contract) by year end…
Raw sugar (SB) edged more than 1% higher Friday, but remains vulnerable to testing the June low before year end. With SB suddenly testing the 23.6% Fib retrace of the bull market since May 2020 (as seen easier on a monthly continuous chart on tradingview.com) near 23, SB could first bounce on short-covering early week…
New York Cocoa (CC) gained another more than 1.5% Friday, closing once again near its 2023 and record high (as can be seen easier on a monthly chart on tradingview.com). The long lower shadow of the December Hammer shows an unwillingness for now to end the strong Bull Market extension from the September/October low…
Arabica Coffee (KC) edged lower Friday with its daily Doji, retesting the 61.8% Fib retrace of its slide from its 2023 high (formed April) and closing just above the psychologically key 175 whole figure level. Nevertheless, odds remain moderate for a retest of the 2023 high (on the March contract) by year end…
