Tradable Patterns

Sugar Daily Jul 25, 2023

Raw sugar (SB) edged down with its daily Gravestone yesterday reversing from a fresh July intraday high just above the psychologically key 25 whole figure level. Nevertheless, SB’s strong bounce from just below the 38.2% Fib retrace of the November to April bull market extension dramatically increases odds that the long green monthly candle body rebounding off the 23.6% Fib retrace of the April 2020 to April 2023 bull market (as seen easier on a monthly chart on tradingview.com) will extend higher above the upper range of the June monthly candle body…

Cocoa Daily Jul 25, 2023

New York Cocoa (CC) edged higher with its daily Doji yesterday, and is now just shy of last week’s 2023 high above the 2015 high (formed that December as can be seen easier on a monthly chart on tradingview.com). CC is trying to extend towards upchannel resistance (on the weekly chart), continuing the massive bull market rally that began November 2022…

Coffee Daily Jul 25, 2023

Arabica Coffee (KC) gained for a 3rd straight day off just above the July low. With the current weekly Doji having extended intraday yesterday above the upper range of the prior three green weekly Hammers/Dojis, KC appears to have halted the slide from the 2023 high in April…

Sugar Daily Jul 24, 2023

Raw sugar (SB) surged another near 1.5% Friday, closing at a fresh July high and just above the psychologically key 25 whole figure level. SB’s strong bounce from just below the 38.2% Fib retrace of the November to April bull market extension dramatically increases odds that the long green monthly candle body rebounding off the 23.6% Fib retrace of the April 2020 to April 2023 bull market (as seen easier on a monthly chart on tradingview.com) will extend higher above the upper range of the June monthly candle body…

Cocoa Daily Jul 24, 2023

New York Cocoa (CC) edged almost 1% higher Friday, closing once again near Wednesday’s fresh 2023 high above the 2015 high (formed that December as can be seen easier on a monthly chart on tradingview.com). CC is trying to extend towards upchannel resistance (on the weekly chart), continuing the massive bull market rally that began November 2022…

Coffee Daily Jul 24, 2023

Arabica Coffee (KC) surged nearly 2.5% Friday off just above the July low. With three straight green weekly Hammers/Dojis, odds are rising for a halt of the slide from the 2023 high in April…

WTI Crude (CL) Weekly Doji Retests Key 75 Level

WTI Crude (CL) consolidated Friday with a daily Hammer closing around the June high and just shy of the July high. With last week’s weekly Doji testing the psychologically key 75 whole figure level, odds are elevated for a retest before month end of the July high with a catalyst coming as early as Wednesday’s highly anticipated weekly US crude inventory…

Sugar Daily Jul 21, 2023

Raw sugar (SB) surged another near 2% yesterday closing at a fresh July high above the Jun 6 low. SB no longer appears likely by month end to slide back below the 38.2% Fib retrace of the November to April bull market extension…

Cocoa Daily Jul 21, 2023

New York Cocoa (CC) slipped more than 1% yesterday in healthy consolidation after hitting a fresh 2023 high above the 2015 high (formed that December as can be seen easier on a monthly chart on tradingview.com). With the weekly Doji having been rejected at the upchannel resistance (on the weekly chart), CC will likely want to catch a breather going into August before it tries launching from the 2015 high to the record high (formed March 2011)…

Coffee Daily Jul 21, 2023

Arabica Coffee (KC) bounced more than 1.5% yesterday off the July low. With the red weekly candle trying to close as a Hammer, odds are rising for a halt of the slide from the 2023 high in April…