The AUDUSD is consolidating after a 3 day bounce to its December high. Significantly, the AUDUSD has broken above a month long downtrend resistance (on the daily chart) and is trying to bounce off just above downchannel support (on the weekly chart)…
Gold (GC) is entering the advanced stages of a bottoming effort after the slide from the November high. Significantly, GC is trying to reclaim an uptrend support line connecting the August low to the lows in September and November, after briefly breaking below it last week…
The VIX (VX) slid a massive 10% yesterday on healthy profiftaking, and is suddenly testing upchannel support (on the 4hr chart). Significantly, although odds are fairly high for the VX to slide back in the next day or so to the 61.8% Fib retrace of the late November to early December rally, the VX is unlikely to correct beyond the 61.8% Fib…
Corn (ZC) is consolidating to start the week, digesting 3 straight green daily candles as it nears the November high. Significantly, ZC is retesting the 61.8% Fib retrace of the May to September slide with the bottom of the slide just below the 50% Fib retrace of the April 2020 to May 2021 bull market…
A new format for Crypto Weekly Outlook begins today, where in light of the rapidly emerging and evolving opportunities in other top 50 coins (other than Bitcoin, Ethereum and Ripple), Crypto Weekly Outlook will 3 Sundays out of each month, provide technical analysis on 10 coins from the top 50 (in market cap) which appear the most interesting for the coming week. Only coins that have above average fundamentals over the long run will be selected…
Cocoa (CC) rebounded a massive 4% plus yesterday, bouncing off downchannel support (on the daily chart). Significantly, although CC had broke last week below upchannel support (on the weekly chart), CC appears to be clawing back above this support…
The GBPAUD is in the advanced stages of consolidating within an upchannel (on the daily chart). Significantly, the GBPAUD is forming a weekly Doji, digesting the break above triangle resistance (on the weekly chart)…
WTI Crude (CL) is trying to firm going into today’s European morning after yesterday’s massive 5% plus slide. Significantly, CL is trying to form a weekly Doji at uptrend support (on the weekly chart), with odds decent for the Doji to turn green after 5 straight down weeks…
The VIX (VX) gave up yesterday more than half of Friday’s eyewatering 30% plus gains. Significantly, although Friday’s peak formed a new contract month 2021 high, on the continuous chart (available on tradingview.com) the VX’s Friday peak roughly equalled the September and May highs…
Corn (ZC) is consolidating Friday’s sharp reversal higher (after an initial gap down), and appears poised to continue pushing higher this week. Significantly, ZC is retesting the 61.8% Fib retrace of the May to September slide, and is suddenly just a day’s volatility from the November high…
