The Nasdaq100 (NQ) is catching its breath in its Dead Cat Bounce, and appears poised for more upside in July. A weekly close above the psychologically key 12k whole figure level and the downtrend resistance (on the weekly chart from April to June) will likely coincide with a daily close above the daily chart downchannel resistance…
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TOP50’sTOP10 (SANDUSD, MANAUSD, DOTUSD, MATICUSD, SOLUSD, XTZUSD, FTTUSD, ATOMUSD, CROUSD, AVAXUSD)
Cotton (CT) is trying to form its 5th straight red daily candle as part of the biggest weekly drop since at least June 2011. Although odds are decent that the break below the psychologically key 1 whole figure level is an overshoot and false break, CT appears to still be weighed by a gravitational pull towards the 61.8% Fib retrace of the April 2020 to May 2022 bull market (as can be seen on tradingview.com)…
The GBPAUD is in the advanced stages of a major bottom that began in April with the effort underway to form a higher June low versus the May low. Odds are high for the GBPAUD to break above the April / May high before month end, regardless of the near complete ascending wedge (on the 4hr chart)…
WTI Crude (CL) is looking vulnerable to sliding further going into July after last week’s tumble from a fresh 2022 high and the psychologically key 120 whole figure level. CL is suddenly hovering precariously just above upchannel support (on the daily chart) and ascending wedge support (on the weekly chart)…
The Nasdaq100 (NQ) appears to be in the early stages of forming a multi-month low, with the current green weekly candle trying to rebound off downchannel support (on the weekly chart). Any break above last week’s high will dramatically increase odds for a daily close above the psychologically key 12k whole figure level by the weekend…
Soybean (ZS) is showing exhaustion after selling off last week following a fresh 2022 high the week prior. Any break below descending triangle support (on the 4hr chart) will likely coincide with a slide below ascending triangle support (on the weekly chart)…
TOP50’sTOP10 (XTZUSD, DOTUSD, MANAUSD, SANDUSD, MATICUSD, SOLUSD, CROUSD, TRXUSD, AVAXUSD, ATOMUSD)
Arabica Coffee (KC) gained another more than 1.5% yesterday, extending the rebound off upchannel support (on the 4hr, daily and weekly chart). With a near complete green weekly Hammer above upchannel support (on the weekly chart), odds are elevated for KC to form a fresh June high before month end…
