Cocoa Daily Feb 16, 2024

New York Cocoa (CC) formed another daily Doji yesterday, and is struggling to form a 7th straight green weekly candle with its weekly Doji just shy of last Friday’s fresh 2024 and record high. Any sudden break below the 4hr chart upchannel support would dramatically increase the likelihood of a sharper reversal to around the psychologically key 5k whole figure level in the week after…

Coffee Daily Feb 16, 2024

Arabica Coffee (KC) bounced more than 1% yesterday (on the May contract), but remains vulnerable to extending the consolidation since late December for at least another week. Any weekly close above the February high will probably have to defer until sometime in March, and would dramatically increase the likelihood of a break above the 2023 high (formed in December on the March and continuous contract as seen easier on a monthly contract tradingview.com) and the psychologically key 2 whole figure level in the week after…

Sugar Daily Feb 15, 2024

Raw sugar (SB) edged more than 0.5% higher yesterday (on the May contract), but remains on pace to forming its first red weekly candle in 7 weeks. Although the weekly candle appears to be holding the prior dowchannel resistance (on the weekly chart) and the 38.2% Fib retrace of the December slide, any test of the psychologically key 25 whole figure level will likely defer until March…

Coffee Daily Feb 15, 2024

Arabica Coffee (KC) slid more than 2.5% lower yesterday (on the May contract), and appears like it will have to extend the consolidation since late December for at least another week. Any weekly close above the February high and test of the psychologically key 2 whole figure level will probably have to defer until sometime in March…

Sugar Daily Feb 14, 2024

Raw sugar (SB) slid more than 1% yesterday, and is suddenly trying to form its first red weekly candle in 7 weeks. With the weekly candle retesting dowchannel resistance (on the weekly chart) and slipping back to near the 38.2% Fib retrace of the December slide, SB is only moderately likely to test the psychologically key 25 whole figure level sometime this month…

Coffee Daily Feb 14, 2024

Arabica Coffee (KC) slid more than 1% lower yesterday, and appears like it will have to extend the consolidation since late December for at least another week. Any daily close at a fresh February high will dramatically increase the likelihood of a test of the psychologically key 2 whole figure level by sometime in the week following…

Cocoa Daily Feb 13, 2024

New York Cocoa (CC) edged lower yesterday with its 2nd straight daily Doji or Hammer, hesitating after reaching at one point Friday to a fresh 2024 and record high. CC appears moderately and increasingly vulnerable to a sharp reversal to around the psychologically key 5k whole figure level this week sometime after its first lower daily close in 12 days…