The VIX (VX) is consolidating after bouncing strongly yesterday off a much higher low versus the 2023 low (from 2 weekly candles ago). Any weekly close above the psychologically key 25 whole figure level would dramatically increase odds of a test of this week’s high next week…
Arabica Coffee (KC) slid more than 2% yesterday, closing near the March low under the prior 4hr chart downchannel resistance. With the current weekly candle turning into a red weekly Gravestone after getting rejected at downchannel resistance (on the weekly chart), KC suddenly appears at vulnerable to breaking below the daily chart triangle support ahead of the weekend…
The GBPUSD powered almost 100 pips in the hour following the highly anticipated FOMC and Fed rate hike. The GBPUSD is now extending the Bull Flag (on the daily chart), and testing a massive triangle resistance (on the weekly chart)…
Arabica Coffee (KC) edged more than 1% lower yesterday, continuing a consolidation near the 4hr chart downchannel resistance. With the current weekly candle remaining green for now and having on Tuesday tested last week’s high, odds remain decent for a retest of downchannel resistance (on the weekly chart) ahead of the weekend…
Gold (GC) slid more than 2% yesterday, completing what appears to be a Bearish Island Reversal (on the daily chart) after forming a fresh 2023 high Monday at upchannel resistance (on the daily and weekly chart). Within GC’s current consolidation back below triangle resistance (on the weekly chart), GC is beginning to firm near the 38.2% Fib retrace of the March rally…
Arabica Coffee (KC) rebounded more than 1% yesterday off triangle support (on the daily chart), closing back above the 4hr chart downchannel resistance. With the growing body of the current green weekly candle having reclaimed the psychologically key 175 whole figure level and edging above last week’s weekly candle body range, KC appears to have halted the downside in the consolidation since the February high…
The S&P500 (ES) is consolidating with its weekly Hammer just shy of the psychologically key 4k whole figure level. With last week’s weekly Doji bouncing off just above the 2023 low, the ES has been trying to halt the slide from the February peak…
Arabica Coffee (KC) rebounded more than 1% yesterday off triangle support (on the daily chart), closing back above the 4hr chart downchannel resistance. With the growing body of the current green weekly candle having reclaimed the psychologically key 175 whole figure level and edging above last week’s weekly candle body range, KC appears to have halted the downside in the consolidation since the February high…
Wheat (ZW) is consolidating near the psychologically key 700 whole figure level after bouncing off the 2023 low (formed a bit more than a week ago). Odds are moderate for a break of descending wedge resistance (on the weekly chart) before month end, which if successful, would neutralize the bear trend since the May high and dramatically increase the likelihood of ZW retesting the February high in the week after…
Arabica Coffee (KC) slid almost 2% Friday, getting rejected at triangle resistance (on the daily chart). Nevertheless, the weekly Doji close last week just above the psychologically key 175 whole figure level suggests KC has largely halted the downside in the consolidation since the February high…
