Raw sugar (SB) rebounded almost 1% yesterday but remains vulnerable to deepening in its month and a half plus consolidation going into year end. The monthly Gravestone (as seen easier on a monthly chart on tradingview.com) suggests moderate odds for a topping of the bull market since May 2020 and at the very least, a healthy multi-month pullback…
Cocoa Daily Nov 28, 2023
New York Cocoa (CC) edged 1% higher yesterday but remains vulnerable this week to healthy profittaking after the strong Bull Market extension from the September/October low to last week’s 2023 and record high (as can be seen easier on a monthly chart on tradingview.com). With how CC is overbought on the monthly chart, and CC near weekly chart upchannel resistance, odds remains elevated for a break this week to below the psychologically key 4k whole figure level…
Coffee Daily Nov 28, 2023
Arabica Coffee (KC) edged higher yesterday, and appears to be gearing up for a retest this week of the psychologically key 175 whole figure level. Any weekly close above the 50% Fib retrace of its slide from its 2023 high (formed April) will dramatically increase odds for a test of downchannel resistance (on the weekly chart) in the month after…
Sugar Daily Nov 27, 2023
Raw sugar (SB) slid almost 1% Friday and appears like it will need to deepen in its month and a half plus consolidation going into year end. The monthly Gravestone (as seen easier on a monthly chart on tradingview.com) suggests rising odds (albeit moderately low for now) for a potential topping of the bull market since May 2020 and at the very least, a healthy multi-month pullback…
Cocoa Daily Nov 27, 2023
New York Cocoa (CC) edged higher Friday but remains vulnerable this week to healthy profittaking after the strong Bull Market extension from the September/October low to last week’s 2023 and record intraday high (as can be seen easier on a monthly chart on tradingview.com). With how CC is overbought on the monthly chart, CC is likely to break this week to below the psychologically key 4k whole figure level…
Coffee Daily Nov 27, 2023
Arabica Coffee (KC) edged lower Friday, with a 3rd straight weekly Gravestone rejected near the psychologically key 175 whole figure level. Any break above downchannel resistance (on the weekly chart) now appears more likely to defer until at least January…
Gold (GC) Reclaims Key 2k Level
Gold (GC) edged higher Friday, closing just below triangle resistance (on the weekly chart). With GC nearing the November high and having reclaimed the psychologically key 2000 whole figure level, GC is near complete in its Bull Flag consolidation since August 2020 (as can be seen more easily on a monthly chart on tradingview.com)…
Sugar Daily Nov 24, 2023
Raw sugar (SB) slid almost 2% Wednesday and appears like it will need to deepen in its month and a half plus consolidation going into year end (after reopening from the US Thanksgiving holiday). The monthly candle is once again a Gravestone (as seen easier on a monthly chart on tradingview.com), suggesting rising odds (albeit low) for a potential topping of the bull market since May 2020 and at the very least, a healthy multi-month pullback…
Cocoa Daily Nov 24, 2023
New York Cocoa (CC) slid more than 1% Wednesday (ahead of the US Thanksgiving holiday) after failing to hold Tuesday’s fresh 2023 and record intraday high (as can be seen easier on a monthly chart on tradingview.com). CC’s red weekly Doji forming increasingly appears it may become the 1st red weekly candle in 8 weeks…
Coffee Daily Nov 24, 2023
Arabica Coffee (KC) edged higher Wednesday, closing ahead of the US Thanksgiving holiday once again above the psychologically key 175 whole figure level. Odds are elevated going into month end of a break above downchannel resistance (on the weekly chart)…