Corn (ZC) is trying to firm to start the week, but remains vulnerable to sliding in the next day or so to the 38.2% Fib retrace of the May to July slide. Odds are now moderately high for ZC to retest ahead of the Xmas lull, the psychologically key 600 whole figure level…
Arabica Coffee (KC) slid almost 2% Friday, completing a weekly Gravestone just above the descending wedge/downtrend support (on the weekly chart). KC suddenly appears vulnerable to retesting by mid week, the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58)…
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Cocoa (CC) rallied nearly 1% yesterday, closing above the psychologically key 2500 whole figure level. With CC back above the 50% Fib retrace of the February to September slide, CC appears to be nearing completion on the 2 week plus Bull Flag consolidation…
Arabica Coffee (KC) slid almost 2.5% yesterday, failing to hold the psychologically key 1.70 whole figure level. Any green weekly candle next week would greatly reinforce this week’s weekly Gravestone and suggest that the prior 2 weeks below the descending wedge/downtrend support (on the weekly chart) to below the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58) were overshoots…
The EURUSD appears to be gearing up to complete the 2 week plus Bull Flag consolidation and retest the psychologically key 1.05 whole figure level before the weekend. With the EURUSD comfortably above downchannel resistance (on the weekly chart), the EURUSD has halted a slide since June 2021, which itself is a part of a major downtrend from 2008 (as can be seen remains intact on tradingview.com)…
Arabica Coffee (KC) surged more than 3.5% yesterday, closing just shy of the psychologically key 1.70 whole figure level. With KC having broken above downchannel resistance (on the 4hr chart), the prior 2 weeks below the descending wedge/downtrend support (on the weekly chart) to below the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58) appear to have been an overshoot…
Gold (GC) is in the advanced stages of a 2 week plus Bull Flag consolidation, with the triangle (on the 4hr chart) about to complete. GC appears to be gearing up for a test ahead in the next week or so of the psychologically key 1800 whole figure level and the 38.2% Fib retrace of the March to October slide…
Arabica Coffee (KC) surged more than 3.5% yesterday, closing just shy of the psychologically key 1.70 whole figure level. With KC having broken above downchannel resistance (on the 4hr chart), the prior 2 weeks below the descending wedge/downtrend support (on the weekly chart) to below the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58) appear to have been an overshoot…
The S&P500 (ES) is consolidating yesterday’s 1.5% plus slide, showing fatigue in the Dead Cat Bounce off the October low as ES slides back below the psychologically key 4k whole figure level and 61.8% Fib retrace of the August to October slide. Any daily close below the 50% Fib and the uptrend support (on the daily chart) would suggest that the Dead Cat Bounce has peaked or is about to in the next few weeks…
