New York Cocoa (CC) surged another 1% plus Monday to start Q3 at a fresh 2023 high. With CC once again bumping against upchannel resistance (on the daily and weekly chart), odds are rising for healthy profittaking…
Cocoa Daily Jul 5, 2023
Coffee Daily Jul 5, 2023
Arabica Coffee (KC) edged up Monday on some short covering ahead of the US Independence Day holiday, suggesting traders may want to attempt this shortened week to halt the slide from the 2023 high. Any break above downchannel resistance (on the 4hr chart) today would coincide with KC recapturing the March low and the 61.8% Fib retrace of the January to April bounce…
Sugar Daily Jul 4, 2023
Raw sugar (SB) gained more than 2% yesterday (on the October contract) going into today’s US Independence Day holiday. Although SB may eke out another day of gains when it reopens Wednesday, SB is unlikely to reclaim the Jun 6 low this week…
Cocoa Daily Jul 4, 2023
New York Cocoa (CC) surged another 1% plus yesterday to start Q3 at a fresh 2023 high. With CC once again bumping against upchannel resistance (on the daily and weekly chart), odds are rising for healthy profittaking…
Coffee Daily Jul 4, 2023
Arabica Coffee (KC) edged up yesterday on some short covering ahead of the US Independence Day holiday, suggesting traders may want to attempt this shortened week to halt the slide from the 2023 high. Any break above downchannel resistance (on the 4hr chart) Wednesday would coincide with KC recapturing the March low and the 61.8% Fib retrace of the January to April bounce…
Sugar Daily Jul 3, 2023
Raw sugar (SB) bounced more than 3% Friday (on the October contract), forming its first green daily candle in 9 days after forming a fresh June low Thursday. Odds are elevated today for more short covering ahead of the US Independence Day holiday Tuesday, with SB having closed June back above the 38.2% Fib retrace of the November to April bull market extension…
Cocoa Daily Jul 3, 2023
New York Cocoa (CC) surged another near 3% Friday to close June and Q2 at a fresh 2023 high. With CC once again bumping against upchannel resistance (on the daily and weekly chart), odds are elevated for healthy profittaking in much of July…
Coffee Daily Jul 3, 2023
Arabica Coffee (KC) slid another 1.5% plus Friday, closing further below the March low and the 61.8% Fib retrace of the January to April bounce. Regardless of the increasing odds for a few days of short covering in this shortened US Independence Day holiday week, KC remains vulnerable to extend by next week the downchannel (on the 4hr chart) and overshoot to the downside with a test of the psychologically key 1.50 whole figure level…
Soybean (ZS) Weekly MACD Positively Crosses
Soybean (ZS) bounced a massive 6% plus Friday (on the November contract) to close the month near its high. ZS suddenly looks poised to attempt the beginning of Q3 this week with a retest of the June high…
Sugar Daily Jun 30, 2023
Raw sugar (SB) slid more than 2% yesterday (on the October contract), falling for its 8th straight day and forming a fresh June low. Odds are rising for a short covering bounce as early as today though despite closing yesterday just below the 38.2% Fib retrace of the November to April bull market extension…