WTI Crude (CL) surged more than 2% Friday, closing the week at a fresh 2023 high above the psychologically key 85 whole figure level. CL has made a higher September high versus the August high, breaking above the major bottoming range that has held since December 2022 (as seen easier by the August monthly Doji on a monthly chart on tradingview.com)…
Sugar Daily Sep 1, 2023
Raw sugar (SB) slid more than 1% yesterday after forming a fresh August intraday high Wednesday. SB appears likely going into the weekend, to continue consolidating, but should not slip much if at all, below the psychologically key 25 whole figure level…
Cocoa Daily Sep 1, 2023
New York Cocoa (CC) edged lower yesterday after briefly forming a fresh 2023 intraday high. Despite the elevated odds for healthy consolidation early next week, CC remains likely to extend its upchannel (on the weekly chart) and test upchannel resistance by mid September…
Coffee Daily Sep 1, 2023
Arabica Coffee (KC) edged more than 0.5% lower yesterday with its red daily Gravestone/Doji after briefly bumping against the July low. Nevertheless, the slide from the April high is in its mid-advanced stages, with a decent probability for more short covering going into early next week…
Cocoa Daily Aug 31, 2023
New York Cocoa (CC) gained another near 1.5% yesterday, closing at a fresh 2023 high. CC is now likely to extend its upchannel (on the weekly chart) and test upchannel resistance by mid September…
Sugar Daily Aug 31, 2023
Raw sugar (SB) edged lower yesterday after forming a fresh August intraday high, producing a red daily Gravestone after Tuesday’s Hammer. SB appears likely going into the weekend, to continue consolidating around the psychologically key 25 whole figure level…
Coffee Daily Aug 31, 2023
Arabica Coffee (KC) gained almost 1.5% yesterday, closing just under the July low. The slide from the April high is now exhausting with a high probability for more short covering going into the weekend…
Sugar Daily Aug 30, 2023
Raw sugar (SB) consolidated with a red daily Doji yesterday after 4 straight up days, hovering near a fresh August high and comfortably above the psychologically key 25 whole figure level. SB’s consolidation of a major bull market from April 2020 to April 2023 is near complete…
Cocoa Daily Aug 30, 2023
New York Cocoa (CC) soared more than 3% yesterday, closing just shy of the 2023 high (formed 3 weekly candles ago). CC is now likely to extend its upchannel (on the weekly chart) and test upchannel resistance by early September…
Coffee Daily Aug 30, 2023
Arabica Coffee (KC) formed a 4th straight daily Doji yesterday, hesitating just under the July low. Although the slide from the April high may be exhausting with a moderate probability for short covering this week, KC remains vulnerable to testing the August low by month end with KC still below the 61.8% Fib retrace of the Jun 2020 to Feb 2022 bull market (as seen easier on a monthly chart on tradingview.com)…