Sugar Daily Feb 8, 2024

Raw sugar (SB) edged more than 1% higher with a daily Doji yesterday, with odds decent for a weekly close above the 50% Fib retrace of the December slide. Any changing to green of the red weekly Doji forming will suggest a decisive break next week above dowchannel resistance (on the weekly chart), resuming the strong bounce off the psychologically key 20 whole figure level…

Sugar Daily Feb 7, 2024

Raw sugar (SB) edged higher with a daily Hammer yesterday, with odds decent for a reclaiming by the weekend of the 50% Fib retrace of the December slide. Nevertheless, with the still red weekly candle bumping against dowchannel resistance (on the weekly chart), the soonest SB resumes its strong bounce off the psychologically key 20 whole figure level is likely next week…

Cocoa Daily Feb 7, 2024

New York Cocoa (CC) edged more than 0.5% higher yesterday to a fresh 2024 and record high, but appears vulnerable to a reversal by the weekend to the psychologically key 5k whole figure level as suggested by yesterday’s daily Hammer. With how overbought CC is on the monthly chart (as seen easier on tradingview.com), and CC near what could become a weekly chart upchannel resistance, odds are moderate for a swing back to the same upchannel’s support by late February…