Arabica Coffee (KC) surged more than 3% Friday, gaining momentum on the bounce off just above the September low. KC closed last week decisively above descending wedge resistance (on the weekly chart), and has ended the slide since April…
USDJPY Testing 2023 High, Nears Key 150 Level
The USDJPY edged higher Friday, closing around the September and 2023 high. With the USDJPY extending last week its massive rally since January to above its 76.4% Fib retrace of the October to January slide, a test of the October high is now likely by year end…
Sugar Daily Sep 15, 2023
Raw sugar (SB) gained more than 1.5% yesterday, closing at a fresh 2023 daily high. SB’s bull market from April 2020 to April 2023 has begun extending in the past few weeks…
Cocoa Daily Sep 15, 2023
New York Cocoa (CC) formed a daily Doji yesterday, closing at a fresh 2023 high. CC is extending its upchannel (on the weekly chart) and appears likely to test upchannel resistance and form a fresh record high (as can be seen easier on a monthly chart on tradingview.com) by early next week…
Coffee Daily Sep 15, 2023
Arabica Coffee (KC) gained nearly 1.5% yesterday, bouncing off just above the September low. KC is arguably breaking above descending wedge resistance (on the weekly chart), and has all but ended the slide since April…
Sugar Daily Sep 14, 2023
Raw sugar (SB) slid more than 1% yesterday, hesitating after Tuesday’s fresh 2023 intraday high. Nevertheless, SB’s bull market from April 2020 to April 2023 appears poised to continue by late month…
Cocoa Daily Sep 14, 2023
New York Cocoa (CC) surged more than 2% yesterday, closing at a fresh 2023 high. CC is once again extending its upchannel (on the weekly chart) and appears likely to test upchannel resistance and form a fresh record high (as can be seen easier on a monthly chart on tradingview.com) by early next week…
Coffee Daily Sep 14, 2023
Arabica Coffee (KC) formed a daily Doji yesterday, but remains poised to continue a bounce off the September low of Monday. Odds are elevated for a weekly close above descending wedge resistance (on the weekly chart)…
Sugar Daily Sep 13, 2023
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…
Cocoa Daily Sep 13, 2023
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…