Coffee Daily Aug 22, 2023

Arabica Coffee (KC) formed a daily Gravestone yesterday, briefly reclaiming the prior downchannel support (on the daily chart), suggesting the slide from the August high may be exhausting. Nevertheless, despite the moderate probability for further short covering in the next few days, KC remains vulnerable to testing the 2023 low by next week…

Sugar Daily Aug 21, 2023

Raw sugar (SB) slid 1% Friday, testing triangle support (on the daily chart). SB is nearing completion on its consolidation since late June, and appears unwilling given the higher August low versus the July low so far, to much more deepen in its healthy profittaking from the July high just above the psychologically key 25 whole figure level…

Coffee Daily Aug 21, 2023

Arabica Coffee (KC) edged higher Friday with the 4th straight daily Doji/Hammer near downtrend support (on the daily chart) suggesting the slide from the August high may be exhausting. Nevertheless, despite the moderate probability for short covering early this week, KC remains vulnerable to testing the 2023 low by late week…

Sugar Daily Aug 18, 2023

Raw sugar (SB) edged more than 0.5% lower yesterday, closing back below triangle resistance (on the daily chart) after a brief intraday break above it. SB is nearing completion on its consolidation since late June, and appears unwilling given the higher August low versus the July low so far and the weekly Doji forming, to resume the healthy profittaking from the July high just above the psychologically key 25 whole figure level…

Cocoa Daily Aug 18, 2023

New York Cocoa (CC) gained another 1% plus yesterday, and is trying to halt the slide from the record high last week as seen by the green weekly candle whose body is now back to last week’s weekly candle open. Nevertheless, following last Monday’s sharp reversal from a fresh 2023 intraday high and upchannel resistance (on the weekly chart), CC is unlikely to see a weekly close above upchannel support (on the daily chart)…