New York Cocoa (CC) edged lower Friday as its reversal from Tuesday’s fresh 2023 high appears ready to gain momentum. With CC having been rejected at upchannel resistance (on the daily and weekly chart), odds are rising for further healthy profittaking this week….
Arabica Coffee (KC) edged higher Friday closing back just above the June low. Last week’s green weekly Doji suggests early efforts at halting the slide from the 2023 high…
The AUDUSD rebounded nearly 100 pips Friday from its intraday low to high, closing the week with a second straight weekly Hammer above the June low. The AUDUSD’s inability these past few weeks to slide back to triangle support (on the weekly chart) suggests decent odds for a retest of triangle resistance sometime in July…
Raw sugar (SB) slid more than 1% lower yesterday after struggling Wednesday to reclaim the Jun 6 low. Any weekly close below the 38.2% Fib retrace of the November to April bull market extension will dramatically increase the likelihood of retesting the June low in the week after…
New York Cocoa (CC) slid more than 1.5% yesterday as it begins reversing from Tuesday’s fresh 2023 high. With CC having been rejected at upchannel resistance (on the daily and weekly chart), odds are rising for further healthy profittaking going into next week…
Arabica Coffee (KC) bounced almost 1% yesterday from just below the June low. The green weekly Doji trying to complete suggests early efforts at halting the slide from the 2023 high. Yesterday’s brief break above downchannel resistance (on the 4hr chart) dramatically increases odds of KC recapturing by mid July the March low and the 61.8% Fib retrace of the January to April bounce…
Raw sugar (SB) edged up almost 1% yesterday after reopening from the US Independence Day holiday. Although SB may eke out another day of gains today, SB is unlikely to reclaim the Jun 6 low this week…
New York Cocoa (CC) edged lower yesterday with the daily and weekly Doji unable to form a fresh 2023 high. With CC having been rejected at upchannel resistance (on the daily and weekly chart), odds are rising for further healthy profittaking ahead of the weekend…
Arabica Coffee (KC) edged another 1% lower yesterday after reopening from the US Independence Day holiday. Although KC closed yesterday near the June low, the weekly Doji trying to form suggests traders may want to attempt this shortened week to halt the slide from the 2023 high…
Raw sugar (SB) gained more than 2% Monday (on the October contract) going into yesterday’s US Independence Day holiday. Although SB may eke out another day of gains when it reopens today, SB is unlikely to reclaim the Jun 6 low this week…
