New York Cocoa (CC) surged more than 3.5% higher yesterday to a fresh 2024 and record high. Although CC is trying to form its 4th straight green weekly candle to start Q2, CC is vulnerable to healthy consolidation this week as it bumps against the daily chart uptrend resistance and upchannel resistance (on the 4hr chart)…
Raw sugar (SB) surged nearly 1.5% Thursday ahead of the Good Friday long weekend and end of Q1. With SB’s decisive break last week above downchannel resistance (on the weekly chart), SB increasingly appears likely to hold in April the upchannel support connecting the lows of 2020 and 2023 as can be seen on a monthly continuous chart on tradingview.com…
New York Cocoa (CC) edged lower Thursday ahead of the Good Friday long weekend and end of Q1. Thursday’s red Doji just below Tuesday’s fresh 2024 and record intraday high around the psychologically key 10k whole figure level suggests that Tuesday’s intraday reversal can be expected to resume in the few days following Easter Monday with CC consolidating currently near the daily chart uptrend resistance and upchannel resistance (on the weekly chart)…
Arabica Coffee (KC) slid nearly 1% Thursday on healthy profittaking ahead of the Good Friday long weekend and end of Q1. Nevertheless, KC is well positioned to complete the weekly chart Bull Flag consolidation since late December by mid April…
Gold (GC) surged nearly 2% Friday (on the June contract) to a fresh 2024 and record high. Although GC may start the new quarter with healthy consolidation as it bumps up against uptrend resistance (on the weekly chart), GC is unlikely this week to slide back to the 2023 high…
Raw sugar (SB) edged nearly 1% lower yesterday, consolidating this week’s break above downchannel resistance (on the weekly chart). With SB having since early March refused to extend the slide since late January, a higher March low versus the December low is all but assured…
New York Cocoa (CC) surged another 2% plus yesterday closing just below Tuesday’s fresh 2024 and record intraday high around the psychologically key 10k whole figure level. Tuesday’s intraday reversal can be expected to strengthen in the few days following the US Easter holiday long weekend with CC consolidating currently near the daily chart uptrend resistance and upchannel resistance (on the weekly chart)…
Arabica Coffee (KC) surged more than 1% yesterday, and is positioned to complete the weekly chart Bull Flag consolidation since late December by early April. A higher March low versus the February low is all but certain and would reinforce the bullishness of the higher March high versus the February high…
Raw sugar (SB) surged 2% higher yesterday, breaking above downchannel resistance (on the weekly chart). With SB having since early March refused to extend the slide since late January, a higher March low versus the December low is all but assured…
New York Cocoa (CC) formed its first red daily candle in 5 days yesterday seeing some healthy profittaking after edging to a fresh 2024 and record intraday high around the psychologically key 10k whole figure level. Yesterday’s intraday reversal can be expected to strengthen in the few days following the US Easter holiday long weekend with CC consolidating currently near the daily chart uptrend resistance and upchannel resistance (on the weekly chart)…
