Robusta Coffee (RC) edged higher yesterday, consolidating Monday’s massive 3.5% plus rebound off Friday’s fresh July and 2022 low. With RC retesting the psychologically key 2k whole figure level and back above prior descending triangle support (on the weekly chart), odds are high for RC to form its first green weekly candle in 7 weeks…
Robusta Coffee (RC) rebounded a massive 3.5% plus yesterday off Friday’s fresh July and 2022 low. With RC retesting the psychologically key 2k whole figure level and back above prior descending triangle support (on the weekly chart), odds are high for RC to form its first green weekly candle in 7 weeks…
Robusta Coffee (RC) edged lower Friday, closing near a fresh July and 2022 low. With 6 straight red weekly candles, odds are rising for a short covering bounce by early this week…
Robusta Coffee (RC) slid more than 2.5% yesterday, closing at a fresh July and 2022 low. With RC on pace for its 6th straight red weekly candle, odds are rising for a short covering bounce by early next week…
Robusta Coffee (RC) bounced more than 1% yesterday, forming a weekly Hammer after bouncing off the 2022 low freshly formed Friday. Yesterday’s break above descending wedge resistance (on the 4hr chart) dramatically increases the likelihood of the 1st green weekly candle in 6 weeks…
Robusta Coffee (RC) slid more than 0.5% yesterday closing near its 2022 low formed Friday. RC will need to break above descending wedge resistance (on the 4hr chart) in the next day or so to halt the 6 straight red weekly candles…
Arabica Coffee (KC) gained a near 1% yesterday, further reclaiming upchannel support (on the daily and weekly chart). With KC just shy of downchannel resistance (on the 4hr chart) and comfortably above the psychologically key 2.25 whole figure level, KC no longer appears likely to slide back to the May low in July…
The GBPAUD is in the advanced stages of a major bottom that began in April with the effort underway to form a higher June low versus the May low. Odds are high for the GBPAUD to break above the April / May high before month end, regardless of the near complete ascending wedge (on the 4hr chart)…
Arabica Coffee (KC) gained another more than 1.5% yesterday, extending the rebound off upchannel support (on the 4hr, daily and weekly chart). With a near complete green weekly Hammer above upchannel support (on the weekly chart), odds are elevated for KC to form a fresh June high before month end…
Arabica Coffee (KC) bounced more than 1% yesterday, and suddenly appears to be in the advanced stages of consolidating near upchannel resistance (on the 4hr chart). Any weekly close above the 61.8% Fib retrace of the slide from the February high to the May low will likely coincide with a retest of the June high, and dramatically increase odds of resuming the upchannel (on the weekly chart) in the week after…
