WTI Crude (CL) slid nearly 1% yesterday, and looks vulnerable going into today’s European morning just above the psychologically key 70 whole figure level. Significantly, CL is retesting the the weekly chart ascending wedge support, and appears increasingly likely to form a lower August high versus the July high…
The VIX (VX) is consolidating going into today’s European morning, and appears poised to nudge higher ahead of Friday’s highly anticipated US Non-Farm Payrolls (NFP). Significantly, the VX has held above the psychologically key 20 whole figure level much of the past month, with moderately high odds for a test by early next week, of downchannel resistance (on the weekly chart) as hinted by July’s brief break above it…
Wheat (ZW) is firming to start the week, quickly approaching the July high. Significantly, ZW has reclaimed the psychologically key 700 whole figure level along with the 61.8% Fib retrace of the May to July slide…
Ethereum (ETHUSD) has completed a major bottom, gaining in the past 12 days and is suddenly back above the psychologically key 2.5k whole figure level. Significantly, ETHUSD is quickly approaching the 38.2% Fib retrace of the March 2020 to May 2021 rally…
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The USDCAD is continuing its week plus slide from its July high, remaining vulnerable to a deeper consolidation ahead of the weekend. Significantly, the USDCAD is retesting the psychologically key 1.25 whole figure level, along with the weekly chart downchannel resistance…
Gold (GC) is firming going into today’s European morning, continuing yesterday’s early attempt to halt a slide since mid July. Significantly, GC has been consolidating for almost a month around the psychologically key 1800 whole figure level, and is nearing the completion of a triangle (on the weekly chart), with the gap between triangle support and resistance down to roughly 100 points…
The S&P500 (ES) is tiring after forming a fresh record high yesterday, testing upchannel support (on the 4hr chart). Significantly, although ES has failed to buckle in the last year amidst increasing warnings of a deep correction or crash, the ES increases in its vulnerability the more overbought it becomes…
Wheat (ZW) is forming the 3rd straight red daily candle to start the week, continuing last week’s consolidation after briefly breaking above the psychologically key 700 whole figure level. Significantly, ZW’s rejection last week occured near the 61.8% Fib retrace of the May to July slide, and leaves ZW just shy of the 38.2% Fib…
Ethereum (ETHUSD) has rebounded strongly in the past 4 days, making good progress in halting the massive slide since the May record high. Significantly, ETHUSD has reclaimed the psychologically key 2k whole figure level, and is quickly approaching the 50% Fib retrace of the March 2020 to May 2021 rally…
