Arabica Coffee (KC) saw a bit of healthy consolidation yesterday, hesitating near triangle resistance (on the daily chart). With KC suddenly near the highest level in a month, odds are elevated for a weekly close in August above the downtrend resistance line (on the weekly chart) connecting the February and June highs…
Tag: Arabica Coffee
Coffee Daily Aug 15, 2022
Arabica Coffee (KC) gained another more than 1% Friday, closing at triangle resistance (on the daily chart). With KC suddenly at the highest level in a month, odds are elevated for a weekly close in August above the downtrend resistance line (on the weekly chart) connecting the February and June highs…
Cocoa (CC) Weekly MACD Trying to Positively Cross
Cocoa (CC) is in the advanced stages of forming a major bottom as it nears downchannel resistance (on the weekly chart). Nevertheless, after the strong bounce from the 2022 low in July, CC is due for a bit of healthy consolidation around the psychologically key 2400 whole figure level and December low…
Coffee Daily Aug 12, 2022
Arabica Coffee (KC) gained another more than 1.5% yesterday, closing above triangle resistance (on the 4hr chart). With KC suddenly at the highest level in a month, KC no longer appears at risk of retesting the psychologically key 2 whole figure level…
Coffee Daily Aug 11, 2022
Arabica Coffee (KC) surged more than 3.5% yesterday, closing at/near triangle resistance (on the 4hr and daily chart). With KC suddenly approaching the highest level in a month, KC no longer appears at risk of retesting the psychologically key 2 whole figure level…
Coffee Daily Aug 10, 2022
Arabica Coffee (KC) edged up a 2nd straight day yesterday, trying to hold triangle support (on the daily chart). Any slide back below the lower end of the range over the last 3 weeks would dramatically increase the likelihood of a break of the psychologically key 2 whole figure level and a test of the 38.2% Fib retrace of the June 2020 to February 2022 bull market (near 1.97) in the week after…
Coffee Daily Aug 9, 2022
Arabica Coffee (KC) edged up more than 1% yesterday, forming a green daily Doji at triangle support (on the daily chart). Any slide back below the lower end of the range over the last 2 weeks would dramatically increase the likelihood of a break of the psychologically key 2 whole figure level and a test of the 38.2% Fib retrace of the June 2020 to February 2022 bull market (near 1.97) in the week after…
Coffee Daily Aug 8, 2022
Arabica Coffee (KC) slid more than 4% Friday, once again nearing the lower end of the range over the last 2 weeks. Increasingly, KC appears to want to retest the psychologically key 2 whole figure level by mid August…
Arabica Coffee (KC) Reclaims 38.2% Fib Retrace of Feb-July Slide
Arabica Coffee (KC) gained another more than 2% yesterday, with the weekly Hammer lower shadow suggesting a refusal to slide back to the psychologically key 2 whole figure level. A weekly close above last week’s high will dramatically reduce the likelihood that KC is in the advanced stages of a Head & Shoulders (on the weekly chart)…
Coffee Daily Aug 5, 2022
Arabica Coffee (KC) gained another more than 2% yesterday, with the weekly Hammer lower shadow suggesting a refusal to slide back to the psychologically key 2 whole figure level. A weekly close above last week’s high will dramatically reduce the likelihood that KC is in the advanced stages of a Head & Shoulders (on the weekly chart)…