Seasonal tendencies are working against this, paired with U$D pressures as those continue to build.
Beyond that, world production is in steady decline with visible crisis levels looming on the horizon (within a decade). This is mostly due to radically increased UV levels in coffee growing regions, paired with a rapidly declining global work force.
The coffee futures were spotted completing a five-wave advance beginning in Oct.2023 and ending in Nov.
The coffee price is now in a wave 2 corrective phase. The 158 and 155 levels shall be the crucial support levels going forward since they are the 50% and 61.8% retracement levels of the wave 1 rise respectively.
The 3rd wave price target is projected around the...
Gan square on the price action and rsi. It’s really cool to see the fibs and gans get respected on the time part of the chart. (Any angle or verticals line= time)
Overextended Market
-Price created many RBR in a row which
gave us the ability to draw aggressive upward ML.
-Market overextended and potentially elastic band effect.
-Price broke aggressive ML
-Price removed 2 opposing RBR demand
Am not too sure about a HTF (W or D) but I still
nice little RBD that could also be used as a HTF
After a minor consolidation phase in which the price of cocoa stagnated just below the pink trend line, the next step of the magenta wave (5) was completed: a clear breakout above this line. We now expect a larger upward expansion until the magenta five-wave move and thus the superior white wave (B) is completed. After this top, the price should go down again -...
There has been an active selloff of the 4000 strike for several days. In other words, the former owner of the option contracts sells off his portfolio. A noteworthy and important point is the fact that this happens in a rising market. In the vast majority of cases, this is a bearish sentiment and reflects a major contract holder's fear of a slowdown or, more...
The sugar price has now reached the upper border of the pink trend channel. It should now break through this line, as it should continue to rise significantly with the yellow wave b. We expect the high to be in the green target zone between USX 28.72 and USX 30.84, which will then allow for new declines.
Weather has always been a key factor influencing the outlook for major commodities, especially agricultural commodities. The arrival of El Niño in June 2023 has led to a wide divergence in the performance across agricultural commodities. As discussed in our previous blog “What does El Niño’s return mean for commodities?”, the effects of El Niño include specific...
OK, this is just4fun peeps....or not? §8-)
Seeing OJ at the U-MLH with such a exponential run up, it is at least worth a "Shot".
...of course with managed risk and money management!
Don't go crazy with this LOL.
Cheers
...slurp...slurp...
It really doesn't get more EPIC than this 50 year chart patterns!
We will see eventually see these in classical chart trading books...
Else, I'll have to write my own book!
#silver #sugar #inflation
If you are wondering why Orange Juice is ROCKETING upwards...
That was a 38 year base breakout!
Now, guess what charts you should be looking at?
#orangejuice #gold #inflation #silver
The market is favorable to the sellers from August 7 and allowed them to make a small profit.
The balance of power is clearly in favor of the bears. A breakdown of the local support level at $3405 will confirm our existing evaluation.
We are waiting option market confirmation.
