Coffee Daily Jan 31, 2023

Arabica Coffee (KC) edged up yesterday, gaining for a 12th straight day. Although becoming overbought on the 4hr chart, with KC comfortably above the weekly chart descending wedge resistance, KC is moderately likey to test before the weekend the December high and the psychologically key 1.75 whole figure level…

Coffee Daily Jan 27, 2023

Arabica Coffee (KC) surged almost 3% yesterday, gaining for a 10th straight day. With the decisive break this week of the weekly chart descending wedge resistance, KC is likely to test by next week sometime, the December high and the psychologically key 1.75 whole figure level…

Coffee Daily Jan 26, 2023

Arabica Coffee (KC) surged more than 1.5% yesterday, gaining for a 9th straight day. A weekly close above the weekly chart descending wedge resistance is likely, and would dramatically increase odds of a test of the December high and the psychologically key 1.75 whole figure level in the week after…

Coffee Daily Jan 25, 2023

Arabica Coffee (KC) is likely to hesitate in the next day or so as hinted by yesterday’s daily Doji and 8th straight green daily candle. Any weekly close above the weekly chart descending wedge resistance will dramatically odds of a test of the December high in the week after…

Coffee Daily Jan 24, 2023

Arabica Coffee (KC) gained another near 2.5% yesterday, extending the bounce that began a bit more than a week ago off a fresh 2023 low. With KC’s daily close yesterday above the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58), there are now elevated odds of a test of the January high by month end…

Coffee Daily Jan 23, 2023

Arabica Coffee (KC) edged higher Friday, consolidating the bounce that began a bit more than a week ago off a fresh 2023 low. A daily close this week above the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58) is likely, and would dramatically increase the odds of a test of the January high by month end…