Ethereum (ETHUSD) has rallied powerfully these past 2 and a half weeks, reversing half of the May to July slide, and is suddenly back above the psychologically key 3k whole figure level. Significantly, with ETHUSD back above the 38.2% Fib retrace of the March 2020 to May 2021 rally, the odds of healthy profittaking back to 3k sometime this week is high, with a deeper correction in August below 2.5k unlikely…
Month: August 2021
Cocoa (CC) Weekly MACD Trying to Positively Cross
Cocoa (CC) edged higher yesterday, appearing to be gearing up for a retest of this week’s and the July high. Significantly, with CC is poised to resume momentum in its bounce off the 7 month downchannel support (on the weekly chart), with a moderately high likelihood of testing the psychologically key 2500 whole figure level by mid August…
USDCAD Consolidates Above Key 1.25 Level Ahead of NFP
The USDCAD is consolidating for a 3rd straight day just above the psychologically key 1.25 whole figure level, appearing to have halted the slide since the July high. Significantly, the USDCAD has bounced from the 50% Fib retrace of the June-July rally, with a weekly close above the weekly chart downchannel resistance coming as early as following Friday’s Canadian employment data and the highly anticipated monthly US Non-Farm Payrolls (NFP)…
WTI Crude (CL) Retesting Weekly Chart Upchannel Support Ahead of Inventory
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…
VIX (VX) Weekly MACD Positively Crossing Ahead of NFP
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) Weekly MACD Trying to Positively Cross
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) Rebounds to Near 38.2% Fib Retrace of Mar20-May21 Rally
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…