Arabica Coffee (KC) slid more than 1.5% yesterday, retesting an uptrend off the July low as part of the major bottoming effort as can be seen easier on a monthly chart on tradingview.com. With last week’s green weekly candle having spent some time above much of the price action of the prior 5 weekly candles, KC has made progress in trying to halt its slide from the 2023 high in April…
Raw sugar (SB) formed a green daily Doji yesterday but remains vulnerable to further healthy profittaking going into mid August continuing the reversal 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) has reversed more than half its gains, with the red August candle threatening to unravel the July gains…
New York Cocoa (CC) sharply reversed yesterday from a fresh 2023 intraday high, sliding nearly 1% and closing around upchannel support (on the daily chart) after briefly breaking it intraday. This week’s weekly Gravestone rejection at upchannel resistance (on the weekly chart) suddenly has CC near the 2015 high (formed that December as can be seen easier on a monthly chart on tradingview.com)…
Arabica Coffee (KC) bounced more than 1.5% yesterday, continuing an uptrend off the July low as part of the major bottoming effort as can be seen easier on a monthly chart on tradingview.com. With last week’s green weekly candle having spent some time above much of the price action of the prior 5 weekly candles, KC has made progress in trying to halt its slide from the 2023 high in April…
Raw sugar (SB) slid more than 1% Friday and is increasingly vulnerable to further healthy profittaking going into mid August continuing the reversal 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) has reversed more than half its gains, with the red August candle elongating…
New York Cocoa (CC) edged higher Friday, closing just above upchannel support (on the daily chart). Nevertheless, with last week’s weekly Doji rejected at upchannel resistance (on the weekly chart) near the 2023 high, odds are elevated for more orderly consolidation this week with initial support around the 2015 high (formed that December as can be seen easier on a monthly chart on tradingview.com)…
Arabica Coffee (KC) slid more than 2% Friday, closing at a fresh August low as part of the consolidation from the July high. Nevertheless, with last week’s green weekly candle having spent some time above much of the price action of the prior 5 weekly candles, KC has made progress in trying to halt its slide from the 2023 high in April…
Nasdaq100 (NQ) slid more than 0.5% lower Friday, closing the week near its low. NQ increasingly appears close to completing its massive rally from the 2022 low (in October) to the 2023 high (formed in July) with NQ testing ascending wedge support (on the weekly chart). If the August candle (as can be seen more easily on a monthly chart on tradingview.com) elongates in its red body to below the June low, the July high will likely have marked the high for 2023…
Raw sugar (SB) slid more than 0.5% yesterday and once again, appears somewhat vulnerable to further healthy profittaking going into mid August continuing the reversal 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) has reversed roughly half its gains, with the August candle now red…
New York Cocoa (CC) slid nearly 2% yesterday, breaking upchannel support (on the 4hr chart). CC is now suddenly nearing upchannel support (on the daily chart) after getting rejected yesterday from near upchannel resistance (on the weekly chart) and a fresh 2023 intraday high formed last Thursday…
