Raw sugar (SB) edged lower with the daily Hammer yesterday, hesitating just under last Wednesday’s fresh 2023 high. Nevertheless, SB remains poised to extend the bull market since May 2020…
Sugar Daily Nov 3, 2023
Cocoa Daily Nov 3, 2023
New York Cocoa (CC) bounced nearly 2% yesterday closing just shy of Monday’s fresh 2023 and record high (as can be seen easier on a monthly chart on tradingview.com). If the weekly Hammer closes green, it will be the 5th straight green weekly candle, increasing odds for healthy profittaking to kick in next week particularly with how overbought CC is on the monthly chart…
Coffee Daily Nov 3, 2023
Arabica Coffee (KC) rebounded nearly 3.5% yesterday, reversing most of Wednesday’s strong profittaking. With October’s close near its high around/above the September, August and July highs, KC is poised to resume its rebound off just above the 2023 low…
Sugar Daily Nov 2, 2023
Raw sugar (SB) bounced more than 1.5% yesterday, closing suddenly back to just under last Wednesday’s fresh 2023 high. SB is now trying to extend the bull market since May 2020…
Cocoa Daily Nov 2, 2023
New York Cocoa (CC) edged lower yesterday with a red daily Doji on further healthy profittaking/consolidation following Monday’s push to a fresh 2023 and record high (as can be seen easier on a monthly chart on tradingview.com). With the first red weekly trying to form in 5 weeks and CC overbought on the monthly chart, odds are now moderately low for an extension higher to upchannel resistance (on the weekly chart) and the psychologically key 4k whole figure level during November…
Coffee Daily Nov 2, 2023
Arabica Coffee (KC) slid a near massive 4.5% yesterday, reversing most of Tuesday’s strong gains. Nevertheless, with October closing near its high around/above the September, August and July highs, KC remains poised to resume its 2 week plus rebound off just above the 2023 low…
Sugar Daily Nov 1, 2023
Raw sugar (SB) bounced more than 1% yesterday, but remains vulnerable to further healthy profittaking this week after last Wednesday’s fresh 2023 high. SB appears poised for at least another few weeks of consolidation of the bull market since May 2020…
Cocoa Daily Nov 1, 2023
New York Cocoa (CC) edged lower yesterday on healthy profittaking, consolidating Monday’s push to a fresh 2023 and record high (as can be seen easier on a monthly chart on tradingview.com). With a red weekly Hammer trying to form and CC overbought on the monthly chart, odds are only moderate for an extension higher to upchannel resistance (on the weekly chart) during November…
Coffee Daily Nov 1, 2023
Arabica Coffee (KC) rebounded a massive 5% plus yesterday, closing October near its high around/above the September, August and July highs. KC is resuming its 2 week plus rebound off just above the 2023 low as it retests downchannel resistance (on the weekly chart)…
Sugar Daily Oct 31, 2023
Raw sugar (SB) slid more than 2% yesterday on further healthy profittaking going into month end after Wednesday’s fresh 2023 high. SB suddenly appears poised for at least another few weeks of consolidation of the bull market since May 2020…