Raw sugar (SB) gained more than 1.5% yesterday, forming a fresh 2023 intraday high. SB’s bull market from April 2020 to April 2023 is continuing. SB’s bounce from just below the 38.2% Fib retrace of the November to April bull market extension and near the 23.6% Fib retrace of the April 2020 to April 2023 bull market (as seen easier on a monthly chart on tradingview.com) is gaining momentum as seen by the lengthening current green monthly candle body…
New York Cocoa (CC) formed a red daily Doji yesterday, closing just shy of last week Tuesday’s fresh 2023 high. With a red weekly Gravestone trying to form, CC no longer appears likely to extend its upchannel (on the weekly chart) and test upchannel resistance sometime this week…
Arabica Coffee (KC) formed a daily Hammer yesterday, refusing to slide back to the September low of Monday. KC is now poised to break descending wedge resistance (on the weekly chart), and no longer appears likely to retest the 2023 low this month…
Raw sugar (SB) edged higher yesterday with a daily Hammer, closing just shy of Friday’s fresh 2023 intraday high. SB remains comfortably above the psychologically key 25 whole figure level, and continues to be poised to extending SB’s bull market from April 2020 to April 2023…
New York Cocoa (CC) formed a daily Doji yesterday, closing just shy of Tuesday’s fresh 2023 high. Odds are moderately high for CC to extend its upchannel (on the weekly chart) and test upchannel resistance sometime this week…
Arabica Coffee (KC) bounced nearly 3% yesterday from just above the August low. KC is now poised to break descending wedge resistance (on the weekly chart)…
Raw sugar (SB) slipped more than 1% Friday after forming a fresh 2023 intraday high. Nevertheless, SB remains comfortably above the psychologically key 25 whole figure level, and continues to be poised to extending SB’s bull market from April 2020 to April 2023…
New York Cocoa (CC) edged more than 1% higher Friday, closing just shy of Tuesday’s fresh 2023 high. Odds are moderately high for CC to extend its upchannel (on the weekly chart) and test upchannel resistance sometime this week…
Arabica Coffee (KC) slid more than 0.5% Friday closing the week just shy of the August low. KC now appears moderately likely to swing one more time this week to descending wedge support (on the weekly chart)…
The S&P500 (ES) formed a daily Doji Friday after Thursday’s daily Hammer, trying to halt the slide from the September high. Any break below ascending wedge support (on the weekly chart) sometime next week dramatically increases the likelihood of a lower September low versus the August low, and that the July high was the high for 2023…
