The USDCAD is catching its breath going into today’s European morning, digesting yesterday’s reclaiming of last week’s high. Significantly, the USDCAD is gathering steam in its upchannel extension (on the weekly chart), where odds are now fairly high for a test of the 2021 high by Q1 sometime…
WTI Crude (CL) is edging lower to start the week, looking vulnerable to decisively breaking the psychologically key 80 whole figure level in the day or so following today’s highly anticipated weekly inventory data. Significantly, CL’s weekly Gravestone last week was rejected at the recent fresh 2021 high, leaving CL unable to reclaim prior ascending wedge support (on the weekly chart)…
The VIX (VX) is trying to firm as it approaches its November and 2021 low. Significantly, the VX is testing downchannel support (on the weekly chart), increasing the odds of halting a 6 week slide this week…
Corn (ZC) is consolidating to start the week, but appears poised to test the November high in the next few days. Significantly, ZC has reclaimed the 50% Fib retrace of the May to September slide, and is well positioned to extend what could be described as a Bull Flag after breaking triangle resistance (on the weekly chart) 2 weeks ago…
Ethereum (ETHUSD)’s near complete weekly Doji after 4 straight green weekly candles reflects healthy consolidation after the fresh record high early this past week. Significantly, ETHUSD is hesitating as it nears upchannel resistance (on the daily and weekly chart), coinciding roughly with the psychologically key 5k whole figure level…
Arabica Coffee (KC) soared nearly 3.5% higher yesterday, closing at the November high. Significantly, KC appears to finally be breaking out of the hesitation of the past month given the length of the current green weekly candle body in contrast to the length of the upper shadows of the prior 4 weekly candles, each rejecting below the 2021 high…
The USDCAD is edging higher going into today’s European morning, consolidating yesterday’s 100 pip plus reversal off its intraday low. Significantly, the USDCAD is now well on its way to extending an upchannel (on the weekly chart) over the next few months, with the October low significantly higher than the May low…
Silver (SI) is trying to firm going into today’s European morning, continuing a consolidation just shy of the October high. Significantly, SI appears to be gearing up to resume an upchannel (on the 4hr and daily chart), and is close to completing a 2 week plus consolidation of the break above the descending wedge resistance (on the weekly chart)…
The VIX (VX) is trying to form its 4th straight green daily candle and its first green weekly candle in 6 weeks. Significantly, the VX has rebounded after slipping last week to a fresh 2021 low, with the VX back above downchannel support (on the weekly chart) after briefly sliding beneath it last week…
Corn (ZC) is trying to form the 1st green daily candle in 5 days as shorts begin covering ahead of the highly anticipated WASDE on Tuesday. Significantly, regardless of the downward pressure that can be expected in the day or so after the WASDE, ZC is likely to strengthen by late week…
