Cocoa (CC) reversed yesterday from an intraday low that briefly broke below the psychologically key 2500 whole figure level, closing above downchannel resistance (on the daily chart). Significantly, odds are now good for CC to resume an upchannel (on the weekly chart) going into Q1…
Tag: Raw Sugar
Cocoa (CC) Tries Halting Oct-Nov Slide Just Above 2021 Low
Cocoa (CC) rebounded a massive 4% plus yesterday, bouncing off downchannel support (on the daily chart). Significantly, although CC had broke last week below upchannel support (on the weekly chart), CC appears to be clawing back above this support…
Cocoa (CC) Rebounds Off Key 2500 Level
Cocoa (CC) bounced more than 2% yesterday, trying to halt the 2 week slide from the recent 2021 high. Significantly, CC’s rebound yesterday occurred after testing the psychologically key 2500 whole figure level and nearing the 61.8% Fib retrace of the July to October rally…
Arabica Coffee (KC) Consolidates Near 2021 High
Arabica Coffee (KC) formed a daily Doji yesterday, closing at prior upchannel resistance (on the daily chart). Significantly, although KC is vulnerable to more consolidation today, KC remains within a few day’s volatility of retesting the 2021 high, with odds high for extending the weekly chart Bull Flag in the next week…
Cocoa (CC) Weekly MACD Trying to Positively Cross
Cocoa (CC) edged higher yesterday, appearing to be gearing up for a retest of this week’s and the July high. Significantly, with CC is poised to resume momentum in its bounce off the 7 month downchannel support (on the weekly chart), with a moderately high likelihood of testing the psychologically key 2500 whole figure level by mid August…
Arabica Coffee (KC) Reclaims Key 1.5 Level
Arabica Coffee (KC) gained more than 1.5% yesterday, rebounding off the psychologically key 1.5 whole figure level. Significantly, KC has formed a 2nd straight green daily candle, and is making progress in holding support defined by the May and June lows…
Cotton (CT) Consolidating Near Weekly Chart Ascending Triangle Resistance
Cotton (CT) is near complete in its 4th straight week of consolidation just below ascending triangle resistance (on the weekly chart). Significantly, although CT appears poised to continue a bull market after breaking in June above a 3 plus month symmetrical triangle resistance (on the weekly chart), the gains since April 2020 have been massive, and may require a deeper consolidation before any further bull market extension…
Raw Sugar (SB) Weekly MACD Trying to Negatively Cross
Raw Sugar (SB) slid a massive near 3% yesterday, closing at downchannel support (on the 4hr chart). Significantly, SB gave up yesterday the psychologically key .17 whole figure level, and has clearly been rejected by upchannel resistance (on the weekly chart)…
Cotton (CT) Trying to Bounce Off Weekly Chart Triangle Support
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Cotton (CT) Testing Weekly Chart Upchannel Support
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