Raw sugar (SB) surged nearly 3% yesterday, forming a fresh August high and reclaiming the psychologically key 25 whole figure level. SB’s November to May bull market consolidation is near complete…
Cocoa Daily Aug 29, 2023
New York Cocoa (CC) edged higher yesterday, but remains somewhat at risk this week of continuing the correction from the 2023 high (formed 3 weekly candles ago). Any test of the August low will coincide with a test of upchannel support (on the weekly chart)…
Coffee Daily Aug 29, 2023
Arabica Coffee (KC) formed a 3rd 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)…
Sugar Daily Aug 28, 2023
Raw sugar (SB) surged more than 2% Friday, arguably completing a triangle (on the daily chart). SB’s November to May bull market consolidation now appears near complete….
Cocoa Daily Aug 28, 2023
New York Cocoa (CC) edged almost 1% higher Friday, but remains somewhat at risk this week of continuing the correction from the 2023 high (formed 3 weekly candles ago). Any test of the August low will coincide with a test of upchannel support (on the weekly chart)…
Coffee Daily Aug 28, 2023
Arabica Coffee (KC) formed a red daily Doji Friday, hesitating just under the July low. Although the slide from the April high may be exhausting with a moderate probability for short covering going into mid week, KC remains vulnerable to testing the 2023 low by late week 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)….
Silver (SI) Weekly MACD Trying to Positively Cross
Silver (SI) formed a daily Doji Friday, with odds rising for a further push to the psychologically key 25 whole figure level sometime this week. The bigger picture is of SI nearing a major triangle/downtrend resistance connecting the April 2011 and February 2021 highs (as can be seen easier on a monthly chart on tradingview.com)…
Sugar Daily Aug 25, 2023
Raw sugar (SB) surged almost 2% yesterday, nearing completion on the triangle (on the daily chart). With this week’s weekly Hammer having bounced from the August low, SB is now just at low risk of testing the July low by month end…
Cocoa Daily Aug 25, 2023
New York Cocoa (CC) formed a daily Doji yesterday, remaining somewhat at risk of continuing the correction from the 2023 high (formed 2 weeks ago). Any test of the August low will coincide with a test of upchannel support (on the weekly chart)….
Coffee Daily Aug 25, 2023
Arabica Coffee (KC) formed a daily Doji yesterday after bumping up against the July low. Although the slide from the April high may be exhausting with a moderate probability for further short covering going into early next week, KC remains vulnerable to testing the 2023 low by late next week 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)…