Raw sugar (SB) edged higher Friday, closing last week just above Wednesday’s fresh 2024 low and the lowest level since January 2023. SB is likely to see further short covering early week as it tries to bounce off descending wedge support (on the weekly chart)…
New York Cocoa (CC) reversed a massive 6% plus yesterday (on the July contract) from Friday’s fresh 2024 and record high. Odds are elevated for further healthy consolidation this week and the 1st red weekly candle in 7 weeks…
Arabica Coffee (KC) slid more than 3% yesterday (on the July contract), deepening in the healthy profittaking from Thursday’s fresh 2024 intraday high (around the August 2022 high). Although bullish momentum can be expected to remain strong over the next few months (as seen easier on a monthly chart at tradingview.com), odds are elevated for further consolidation this week after yesterday’s break of upchannel support (on the 4hr chart)…
Raw sugar (SB) edged higher Friday, closing last week just above Wednesday’s fresh 2024 low and the lowest level since January 2023. SB is likely to see further short covering early week as it tries to bounce off descending wedge support (on the weekly chart)…
New York Cocoa (CC) surged a massive near 6% Friday (on the July contract) to a fresh 2024 and record high. Nevertheless, with last week’s 6th straight green weekly candle and Friday’s Hammer, odds are elevated for healthy consolidation this week back around the psychologically key 10k whole figure level…
Arabica Coffee (KC) edged lower with a daily Doji Friday (on the July contract) from Thursday’s fresh 2024 intraday high. Although bullish momentum can be expected to remain strong over the next few months (as seen easier on a monthly chart at tradingview.com), odds are elevated for further healthy consolidation early week to below upchannel support (on the 4hr chart) after getting rejected around the August 2022 high…
Gold (GC) edged more than 0.5% higher Friday (on the June contract), appearing poised to retest the fresh 2024 and record high two Thursdays ago. Odds are now elevated for a Bull Flag extension by early May to upchannel resistance (on the weekly chart) and the psychologically key 2500 whole figure level…
Raw sugar (SB) edged higher with a daily Doji yesterday for its 1st green daily candle in 10 days. Despite yesterday’s bounce off Wednesday’s fresh 2024 low and the lowest level since January 2023, SB has decisively broken the upchannel support connecting the lows of 2020 and 2023 as can be seen on a monthly continuous chart on tradingview.com with odds elevated for a test of the 50% Fib retrace of the April 2020 to March 2023 bull market top by month end…
New York Cocoa (CC) surged a massive 9.5% plus yesterday (on the July contract) to a fresh 2024 and record high. CC is all but certain to complete its 6th straight green weekly candle…
Arabica Coffee (KC) pulled back more than 3% yesterday (on the July contract) from a fresh 2024 intraday high. Although bullish momentum can be expected to remain strong over the next few months (as seen easier on a monthly chart at tradingview.com), odds are elevated for further healthy consolidation going into early next week to below upchannel support (on the 4hr chart) after getting rejected around the August 2022 high…
