Arabica Coffee (KC) edged higher with a daily Doji yesterday, hesitating as the rebound off just above the 2023 low nears the psychologically key 1.5 whole figure level. KC is suddenly much less vulnerable to extending the slide (before the weekend) since the 2023 high in April to the weekly chart downtrend support (connecting the March and August lows) and forming a fresh 2023 low…
Raw sugar (SB) formed a red daily Hammer yesterday, hesitating after 4 straight up days. Regardless, SB is now catching its breath ahead of what will likely be a retest of its 2023 high by next week…
New York Cocoa (CC) edged more than 1% higher yesterday with its weekly Hammer trying to form testing upchannel support (on the weekly chart) and nearing the psychologically key 3500 key whole figure level. Nevertheless, CC continues to be vulnerable to a completion of the Bear Flag consolidation (of the past week plus) in the next week or so, with odds elevated for an overall bearish October and moderate likelihood that CC has ended its bull market since November 2022…
Arabica Coffee (KC) rebounded almost 1% yesterday off just above the 2023 low. Odds are decent for follow through in the next day or so to yesterday’s bounce and a weekly close above the psychologically key 1.5 whole figure level…
Raw sugar (SB) surged more than 1.5% yesterday, gaining for a 4th straight day. SB is now in the advanced stages of completing its consolidation since forming a fresh 2023 high in September…
New York Cocoa (CC) edged lower yesterday with its red daily Hammer. The red weekly Hammer/Doji trying to form just under upchannel support (on the weekly chart) and the psychologically key 3500 key whole figure level (after last week’s weekly Doji) appears like a Bear Flag consolidation…
Arabica Coffee (KC) edged higher with a green daily Doji Friday and a weekly Gravestone, trying to hold the 2023 low. Odds are increasing once again for a reclaiming of the psychologically key 1.5 whole figure level, with KC testing what is arguably a descending wedge resistance (on the 4hr chart)…
Raw sugar (SB) gained more than 2% Friday, closing the week back above the April, May and June highs. With SB’s strong bounce from its intraweek low as seen by last week’s weekly Hammer, SB once again appears reluctant to extending the reversal from September’s 2023 high…
New York Cocoa (CC) rebounded more than 1.5% Friday, but remains vulnerable this week to deepening in its healthy profittaking. Last week’s weekly Gravestone was unable to hold onto upchannel support (on the weekly chart) and the psychologically key 3500 key whole figure level, suggesting an overall bearish October and moderate likelihood that CC has ended its bull market since November 2022…
Arabica Coffee (KC) edged higher with a green daily Doji Friday and a weekly Gravestone, trying to hold the 2023 low. Odds are increasing once again for a reclaiming of the psychologically key 1.5 whole figure level, with KC testing what is arguably a descending wedge resistance (on the 4hr chart)…
