Cotton (CT) consolidated for a 3rd straight day yesterday and is near complete on a weekly Gravestone. With CT breaking upchannel support (on the 4hr chart), odds are elevated for a testing next week of the 50% Fib retrace of the May to July slide…
Arabica Coffee (KC) slid more than 1% yesterday, gearing up for a volatility surge as the daily chart triangle nears completion. With this week’s slide, odds have risen dramatically for a retest before month end of the August low…
The USDCAD appears poised to reclaim the psychologically key 1.30 whole figure level before month end. Any retesting of the 2022 high would likely have to wait until September…
Arabica Coffee (KC) slid almost 1% yesterday, gearing up for a volatility surge as the daily chart triangle nears completion. Regardless, KC is moderately likely to test in August the downtrend resistance line (on the weekly chart) connecting the February and June highs…
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Arabica Coffee (KC) slid more than 2.5% yesterday after getting rejected by triangle resistance (on the daily chart). Regardless, KC remains near the highest level in a month, with odds elevated for a test in August of the downtrend resistance line (on the weekly chart) connecting the February and June highs…
The Nasdaq100 (NQ) is beginning to form a weekly Hammer, but appears to be gravitating in its Dead Cat Bounce to the 50% Fib retrace of the January to June slide. With NQ above downtrend resistance (on the weekly chart), a further short squeeze before month end to the 61.8% Fib retrace of the January to June slide should not be ruled out…
Arabica Coffee (KC) saw a bit of healthy consolidation yesterday, hesitating near triangle resistance (on the daily chart). With KC suddenly near the highest level in a month, odds are elevated for a weekly close in August above the downtrend resistance line (on the weekly chart) connecting the February and June highs…
Corn (ZC) is consolidating Friday’s surge post-WASDE, catching its breath before trying to challenge the July high. With ZC unable to slide back to the psychologically key 600 whole figure level immediately following Friday’s WASDE, ZC is making progress with its higher major low that began in July, coinciding with the 50% Fib retrace of the April 2020 to April 2022 bull market (as can be seen on tradingview.com)…
Arabica Coffee (KC) gained another more than 1% Friday, closing at triangle resistance (on the daily chart). With KC suddenly at the highest level in a month, odds are elevated for a weekly close in August above the downtrend resistance line (on the weekly chart) connecting the February and June highs…
