Raw sugar (SB) edged roughly 0.5% lower yesterday, closing just above the April, May and June highs. With the reversal from September’s 2023 high gaining momentum, a break below upchannel support (on the daily chart) appears imminent, and would dramatically increase the likelihood of testing the psychologically key 25 whole figure level in the week after….
New York Cocoa (CC) bounced nearly 2.5% yesterday, trying to reclaim upchannel support (on the daily and weekly chart). Whether CC closes on a daily basis above the psychologically key 3500 key whole figure level today will largely determine whether CC resumes its healthy profittaking before the weekend…
Arabica Coffee (KC) bounced more than 2% yesterday from just above the 2023 low, reclaiming intraday the psychologically key 1.5 whole figure level. KC is trying to avoid sliding further to the weekly chart downtrend support (connecting the March and August lows)…
Raw sugar (SB) slid more than 1.5% Friday, closing around the April, May and June highs after the prior week’s Doji failed to form a fresh 2023 high. Any break by mid week below upchannel support (on the daily chart) will likely coincide with testing the psychologically key 25 whole figure level…
New York Cocoa (CC) slid more than 1% Friday, closing below upchannel support (on the daily and weekly chart). CC appears poised for deeper profittaking this week with Friday’s failure to reclaim the psychologically key 3500 key whole figure level…
Arabica Coffee (KC) edged lower Friday with a red daily Doji, closing the week decisively below the psychologically key 1.5 whole figure level around the 2023 low. KC is vulnerable to a retest sometime this week of the weekly chart downtrend support (connecting the March and August lows)…
The USDCAD surged more than 150 pips Friday from the day’s low (just above the September low) to the intraday high and close. The USDCAD has bounced off an uptrend support that began in July (as seen on the weekly chart), closing last week above the psychologically key 1.35 whole figure level…
New York Cocoa (CC) edged more than 1% higher yesterday, closing around upchannel support (on the weekly chart). Despite decent odds for another day or so of short covering, CC appears poised for deeper profittaking next week sometime after closing yesterday for a second straight day below the psychologically key 3500 key whole figure level…
Raw sugar (SB) bounced more than 2% yesterday off upchannel support (on the daily chart), closing once again just shy of the 2023 high. The near complete weekly Hammer suggests an unwillingness for the consolidation that began last week with its weekly Doji to further deepen…
Arabica Coffee (KC) slid more than 1% yesterday, testing the August and September lows and closing below the psychologically key 1.5 whole figure level. KC is vulnerable to a retest by next week of the weekly chart downtrend support (connecting the March and August lows)…
