Coffee Daily Feb 7, 2023

Arabica Coffee (KC) bounced more than 1.5% yesterday, and appears close to halting the healthy profittaking (from last week’s February high) after bouncing off upchannel support (on the 4hr and daily chart). Any further consolidation in the next day or so will likely find support at the psychologically key 1.70 whole figure level…

Coffee Daily Feb 3, 2023

Arabica Coffee (KC) edged up more than 1% yesterday, but remains vulnerable to more healthy profittaking by early next week to upchannel support (on the 4hr and daily chart). Regardless of there having only been one red daily candle in the last 15 days, odds are fairly elevated for the current consolidation to find support at the psychologically key 1.70 whole figure level…

Coffee Daily Feb 2, 2023

Arabica Coffee (KC) slid more than 3% yesterday, producing the first red daily candle in 14 days. Odds are elevated for the healthy profittaking to deepen before the weekend with the rejection yesterday at the 38.2% Fib retrace of the February to January slide, and descending wedge resistance (on the weekly chart)…

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…