Coffee Daily Feb 10, 2023

Arabica Coffee (KC) slid another 1% plus yesterday, edging further below a month long upchannel support (on the daily chart). Nevertheless, KC appears close to halting the healthy profittaking (from last week’s February high), with any further consolidation going into early next week likely to find support at the psychologically key 1.70 whole figure level…

Coffee Daily Feb 9, 2023

Arabica Coffee (KC) formed a second straight daily Doji yesterday, edging slightly below a month long upchannel support (on the daily chart). Nevertheless, KC appears close to halting the healthy profittaking (from last week’s February high), with any further consolidation in the next day or so likely to find support at the psychologically key 1.70 whole figure level…

Natural Gas (NG) Reclaims Key 2.5 Level Ahead of Storage

Natural Gas (NG) is trying to halt the deep slide since September, with odds elevated and rising for a strong bounce off downchannel support (on the weekly chart) and Friday’s fresh 2023 low following Thursday’s highly anticipated weekly storage data. With NG arguably breaking above a descending wedge resistance (on the daily chart), a break above downchannel resistance (on the 4hr chart) post-storage is likely…