Raw Sugar Archives - Tradable Patterns

Sugar Daily Dec 15, 2023

Raw sugar (SB) rebounded almost 1% yesterday with its daily Hammer finding support after edging just below the 61.8% Fib retrace of the 2023 bull market extension (near 21.5). Nevertheless, with SB having slid this week below the June low, and SB comfortably below the 23.6% Fib retrace of the bull market since May 2020 (as seen easier on a monthly continuous chart on tradingview.com) near 23, SB appears to be in the middle stages of a multi-month consolidation, with moderate odds that the major bull market has topped…

Sugar Daily Jun 20, 2023

Raw sugar (SB) tacked on another 1.5% plus Friday, closing just shy of the May and 2023 high. SB now appears to have a decent chance this US Juneteenth holiday shortened week of extending the upchannel (on the weekly chart) and forming a fresh 2023 high in April…

Sugar Daily Jun 13, 2023

Raw sugar (SB) edged up yesterday but remains vulnerable this week to deepening in its consolidation from the 2023 high (formed in Apr). Any test of its record high (formed Feb 2011 and seen easier on a monthly chart on tradingview.com) will likely have to wait until sometime in 2024….

Nasdaq100 (NQ) Retesting 38.2% Fib Retrace of Aug-Oct Slide

Nasdaq100 (NQ) is showing fatigue in its Dead Cat Bounce off the October low, sliding back to just above the 38.2% Fib retrace of the August to October slide. Odds are fairly low for NQ to extend higher within its Oct-Nov Dead Cat Bounce before the Xmas lull to the 61.8% Fib or the weekly chart downtrend/descending wedge resistance…

Cocoa (CC) Reclaims 50% Fib Retrace of Feb-Sep Slide

Cocoa (CC) rallied nearly 1% yesterday, closing above the psychologically key 2500 whole figure level. With CC back above the 50% Fib retrace of the February to September slide, CC appears to be nearing completion on the 2 week plus Bull Flag consolidation…

S&P500 (ES) Dead Cat Bounce Since Oct Low Tiring

The S&P500 (ES) is consolidating yesterday’s 1.5% plus slide, showing fatigue in the Dead Cat Bounce off the October low as ES slides back below the psychologically key 4k whole figure level and 61.8% Fib retrace of the August to October slide. Any daily close below the 50% Fib and the uptrend support (on the daily chart) would suggest that the Dead Cat Bounce has peaked or is about to in the next few weeks…

Soybean (ZS) Rejected by Weekly Chart Triangle Resistance

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Cocoa (CC) Retesting 38.2% Fib Retrace of Feb-Sep Slide

Cocoa (CC)’s healthy profittaking this week should be slowing going into next week, with CC now testing the 38.2% Fib retrace of the massive bounce off the September low. CC is also back to prior downchannel resistance (on the weekly chart), but may briefly fall below the psychologically key 2400 whole figure level and October high…

Raw Sugar (SB) Reclaims 61.8% Fib Retrace of Apr-Sep Slide

Raw Sugar (SB) edged higher yesterday, gaining for the 9th straight day and closing above the 61.8% Fib retrace of the April to September slide. SB is now comfortably above the October high, downchannel resistance (on the weekly chart) and the psychologically key 0.19 whole figure level…

S&P500 (ES) Weekly MACD Positively Crossing

The S&P500 (ES) is consolidating a 2 day bounce, and appears to be gearing up this week for a retest of the October high and the 50% Fib retrace of the August to October slide. Any reclaiming of the psychologically key 4k whole figure level or the 61.8% Fib on a weekly basis will dramatically increase odds for the current Dead Cat Bounce to reach downchannel resistance (on the weekly chart) in the week after…