Arabica Coffee (KC) slid another near 1% yesterday, but has decent odds of attempting a bounce ahead by early next week as part of efforts to form a higher December low versus the November low. Any weekly close below descending wedge/downtrend support (on the weekly chart) and the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58) will dramatically increase the likelihood of a test next week of the psychologically key 1.50 whole figure level…
Tag: Arabica Coffee
Coffee Daily Dec 8, 2022
Arabica Coffee (KC) slid more than 2% yesterday, but has decent odds of attempting a bounce ahead of the weekend as part of efforts to form a higher December low versus the November low. Any slide further below descending wedge/downtrend support (on the weekly chart) back below the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58) will dramatically increase the likelihood of a test of the psychologically key 1.50 whole figure level in the few days after…
Coffee Daily Dec 7, 2022
Arabica Coffee (KC) consolidated a 4th straight day yesterday, but should be about to bounce and attempt a higher December low versus the November low. Odds are decent for KC to rebound this week off descending wedge/downtrend support (on the weekly chart)…
Coffee Daily Dec 6, 2022
Arabica Coffee (KC) consolidated a 3rd straight day yesterday, but should be about to bounce and attempt a higher December low versus the November low. Odds are decent for KC to rebound this week off descending wedge/downtrend support (on the weekly chart)…
Coffee Daily Dec 5, 2022
Arabica Coffee (KC) slid almost 2% Friday, completing a weekly Gravestone just above the descending wedge/downtrend support (on the weekly chart). KC suddenly appears vulnerable to retesting by mid week, the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58)…
Coffee Daily Dec 2, 2022
Arabica Coffee (KC) slid almost 2.5% yesterday, failing to hold the psychologically key 1.70 whole figure level. Any green weekly candle next week would greatly reinforce this week’s weekly Gravestone and suggest that the prior 2 weeks below the descending wedge/downtrend support (on the weekly chart) to below the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58) were overshoots…
Coffee Daily Dec 1, 2022
Arabica Coffee (KC) surged more than 3.5% yesterday, closing just shy of the psychologically key 1.70 whole figure level. With KC having broken above downchannel resistance (on the 4hr chart), the prior 2 weeks below the descending wedge/downtrend support (on the weekly chart) to below the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58) appear to have been an overshoot…
Coffee Daily Nov 30, 2022
Arabica Coffee (KC) surged more than 3.5% yesterday, closing just shy of the psychologically key 1.70 whole figure level. With KC having broken above downchannel resistance (on the 4hr chart), the prior 2 weeks below the descending wedge/downtrend support (on the weekly chart) to below the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58) appear to have been an overshoot…
Coffee Daily Nov 29, 2022
Arabica Coffee (KC) slid more than 1% yesterday, forming a second straight daily Doji just above prior downchannel resistance (on the daily chart). KC appears to have formed a major bottom just above the psychologically key 1.50 whole figure level, reclaiming the descending wedge/downtrend support (on the weekly chart)…
Coffee Daily Nov 28, 2022
Arabica Coffee (KC) edged almost 1.5% higher Friday after the US Thanksgiving holiday, closing just above prior downchannel resistance (on the daily chart). KC appears to have formed a major bottom just above the psychologically key 1.50 whole figure level, reclaiming the descending wedge/downtrend support (on the weekly chart)…