
Arabica Coffee (KC) surged a massive 4% plus yesterday, closing at downchannel resistance (on the daily chart). Significantly, KC has reclaimed the weekly chart’s upchannel support and the psychologically key 2.25 whole figure level…
The EURUSD is forming its 2nd straight green weekly candle, and has arguably halted its downtrend (on the weekly chart). With the EURUSD trying to bounce off uptrend support (on the 4hr chart), odds are high for a break above the 38.2% Fib retrace of the February to May downtrend extension before month end…
Cotton (CT) is looking vulnerable to a daily close below upchannel support (on the daily chart), which after last week’s weekly Gravestone reversal from a 2022 high could create a Bearish Island Reversal (on the weekly chart). CT is also forming a monthly Gravestone (which can be seen on tradingview.com) with the 2022 high (earlier this month) having formed near the 61.8% Fib retrace of the slide from the record high (in 2011) to the 2020 bottom…
Raw Sugar (SB) is trying to halt a 3 week plus slide from its 2022 high, but remains vulnerable to deepening in its consolidation and retesting the March low sometime in May. Nevertheless, SB does not appear to be forming a Double Top-like pattern (on the weekly chart) as the April high was comfortably above the November high (on the July contract)…