New York Cocoa (CC) gained nearly 1% yesterday, and is trying to halt the slide from the record high last week as seen by the green weekly candle forming just above upchannel support (on the weekly chart). Nevertheless, following last Monday’s sharp reversal from a fresh 2023 intraday high and upchannel resistance (on the weekly chart), CC is unlikely to reclaim upchannel support (on the daily chart) this week…
Arabica Coffee (KC) edged lower yesterday with a red daily Doji at downtrend support (on the daily chart). Although KC may see a bit of short covering in the next day or so, it remains vulnerable to testing the 2023 low by month end…
Raw sugar (SB) slid more than 1% yesterday after getting rejected at triangle resistance (on the daily chart). SB is once again somewhat vulnerable to resuming the healthy profittaking from the July high just above the psychologically key 25 whole figure level…
New York Cocoa (CC) gained another more than 0.5% yesterday, and is trying to halt the slide from the record high last week as seen by the green weekly candle forming just above upchannel support (on the weekly chart). Nevertheless, following last Monday’s sharp reversal from a fresh 2023 intraday high and upchannel resistance (on the weekly chart), CC is unlikely to reclaim upchannel support (on the daily chart) this week…
Arabica Coffee (KC) slid another more than 1% yesterday, and is now likely to test the 2023 low by month end. Despite testing what is arguably descending wedge support (on the daily chart), odds are elevated for a weekly close below the psychologically key 1.50 whole figure level, particularly with the red monthly candle extending 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)…
Raw sugar (SB) slid more than 1% yesterday, closing around the breakout above downchannel resistance (on the 4hr chart). SB is once again somewhat vulnerable to resuming the healthy profittaking from the July high just above the psychologically key 25 whole figure level…
New York Cocoa (CC) edged more than 0.5% higher yesterday with its daily Doji, and is trying to form a green weekly Doji just above upchannel support (on the weekly chart). Nevertheless, following last Monday’s sharp reversal from a fresh 2023 intraday high and upchannel resistance (on the weekly chart), CC is unlikely to reclaim upchannel support (on the daily chart) this week…
Arabica Coffee (KC) slid a massive 4% plus yesterday, breaking below the July low and is now likely to test the 2023 low by month end. Odds are suddenly elevated for a weekly close below the psychologically key 1.50 whole figure level, particularly with the red monthly candle extending 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)…
Raw sugar (SB) gained more than 1.5% Friday, reversing most of the prior week’s losses and halting the healthy profittaking from the July high just above the psychologically key 25 whole figure level. 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 once again seeing upward momentum, with the August candle now green….
New York Cocoa (CC) formed a 3rd straight daily Doji or Hammer Friday, remaining vulnerable this week to extending the sharp reversal Monday from a fresh 2023 intraday high. With Tuesday’s plunge from upchannel support (on the daily chart) and last week’s weekly candle’s rejection at upchannel resistance (on the weekly chart), CC appears to be gravitating to the same upchannel’s support…
