New York Cocoa (CC) slid more than 4% yesterday on healthy profittaking, further reversing after Monday’s fresh 2024 and record high. With CC forming its first red weekly candle in 4 weeks to start Q2, CC is vulnerable to a deepening consolidation 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) soared nearly 3% yesterday, closing at a fresh 2024 high. With yesterday’s intraday high 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 today would be healthy and likely to find strong support on any dip back to the psychologically key 2 whole figure level…
Raw sugar (SB) slid more than 1.5% yesterday on healthy profittaking. SB appears likely to deepen in its consolidation the balance of this week after being rejected by upchannel resistance (on the 4hr chart)…
New York Cocoa (CC) slid more than 1.5% yesterday on healthy profittaking after Monday’s fresh 2024 and record high. With CC struggling to form its 4th straight green weekly candle to start Q2, CC is vulnerable to healthy consolidation the balance of this week after bumping against the daily chart uptrend resistance…
Arabica Coffee (KC) soared more than 3% yesterday, closing at a fresh 2024 high. KC has broken above the weekly chart Bull Flag consolidation resistance since late December, and is poised to reclaim the 2023 high (formed in December on the March and continuous contract as seen easier on a monthly chart at tradingview.com) and the psychologically key 2 whole figure level by next week sometime…
Raw sugar (SB) edged higher yesterday with a Doji to start Q2 following the Easter long weekend. SB appears likely though to consolidate for much of this holiday-shortened week as it bumps against upchannel resistance (on the 4hr chart) and nears the 50% Fib retrace of the slide from the November high to the December low…
Arabica Coffee (KC) rebounded more than 1.5% yesterday on the first day of Q2 after reopening from the Good Friday long weekend. KC is well positioned to complete the weekly chart Bull Flag consolidation since late December by next week…
New York Cocoa (CC) surged more than 3.5% higher yesterday to a fresh 2024 and record high. Although CC is trying to form its 4th straight green weekly candle to start Q2, CC is vulnerable to healthy consolidation this week as it bumps against the daily chart uptrend resistance and upchannel resistance (on the 4hr chart)…
Raw sugar (SB) surged nearly 1.5% Thursday ahead of the Good Friday long weekend and end of Q1. With SB’s decisive break last week above downchannel resistance (on the weekly chart), SB increasingly appears likely to hold in April the upchannel support connecting the lows of 2020 and 2023 as can be seen on a monthly continuous chart on tradingview.com…
New York Cocoa (CC) edged lower Thursday ahead of the Good Friday long weekend and end of Q1. Thursday’s red Doji just below Tuesday’s fresh 2024 and record intraday high around the psychologically key 10k whole figure level suggests that Tuesday’s intraday reversal can be expected to resume in the few days following Easter Monday with CC consolidating currently near the daily chart uptrend resistance and upchannel resistance (on the weekly chart)…
