Ethereum (ETHUSD) Weekly MACD Positively Crossing

Ethereum (ETHUSD) has consolidated for a 2nd straight week just below the 61.8% Fib retrace of the May to July slide, digesting the massive rally off the Triple Bottom May/June/July low. Significantly, although ETHUSD is likely to retest its record high by year end, the steepness of the late July – August rally keeps the likelihood of retesting the key 4k level by October sometime to moderate…

Arabica Coffee (KC) Daily MACD Trying to Positively Cross

Arabica Coffee (KC) edged almost 1% higher yesterday, and is in the advanced stages of consolidating Tuesday’s break above triangle resistance (on the 4hr and daily chart). Significantly, with Robusta Coffee (RC) likely to form a fresh 2021 high by next week sometime, KC is poised to play a bit of catch up and strengthen its bounce off the 38.2% Fib retrace of the November to July rally extension…

USDCAD Tries Halting 300 Pip Pullback Ahead of Jackson Hole

The USDCAD is firming going into the US morning and trying to bounce off the psychologically key 1.26 whole figure level. Significantly, although the USDCAD has corrected over 300 pips since Friday’s fresh 2021 peak, the USDCAD could see fresh buying demand as early as today following the US GDP data at 830am EST, and more likely following Friday’s highly anticipated Fed comments out of Jackson Hole…

VIX (VX) Slides Back to Below Key 20 Level

The VIX (VX) has slid since Friday back to near its 2021 low, getting rejected at downchannel resistance (on the weekly chart) and the 38.2% Fib retrace of the January to August slide. Significantly, despite the strong profittaking since Friday, odds are moderately high for the VX to break above the weekly chart downchanel resistance by month end, with volatility sure to surge following Friday’s highly anticipated Jackson Hole (moved to a 1 day online event)…

Cocoa (CC) Consolidates After Forming New 2021 High

Cocoa (CC) slid more than 1.5% yesterday, getting rejected at upchannel/ascending wedge resistance (on the 4hr chart) and upchannel resistance (on the daily chart). Significantly, CC is seeing healthy profittaking after forming a fresh 2021 high Wednesday, consolidating as well the break last week above a downchannel resistance (on the weekly chart connecting the November, March and May highs)…