Cocoa (CC) gained more than 1.5% yesterday, closing near the December high and decisively above the psychologically key 2500 whole figure level. Significantly, CC has arguably broken triangle resistance (on the daily chart), and has re-entered the upchannel (on the weekly chart)…
The USDJPY is edging higher going into today’s European morning, and has arguably completed a near 2 month plus Bull Flag consolidation (on the weekly chart). Significantly, with the USDJPY back above the psychologically key 115 whole figure level, it is well positioned to extend the upchannel (on the weekly chart)…
Natural Gas (NG) is firming in today’s European morning, continuing a strong reversal since last week’s bottom near the psychologically key 3.5 whole figure level. Significantly, although NG is in the early stages of halting its slide since October, before bulls get excited, they’ll want to first see a daily and weekly close above downchannel resistance (on the daily and weekly chart)…
The VIX (VX) is trying to firm in today’s Asia morning after sliding for 4 straight days. Significantly, although the VX formed a fresh 2021 low yesterday on the January contract, odds are moderately high for another VX surge to last week’s high before year end, as VX tries bouncing off downtrend support (on the weekly chart)…
Corn (ZC) is consolidating to start the week, tiring after 3 straight up days and Wednesday’s break above ascending wedge/triangle resistance (on the daily chart). Significantly, ZC is bumping up against the 76.4% Fib retrace of the May to September slide, and is vulnerable to sliding back to inside the ascending wedge (on the daily chart) that it broke above mid last week…
The AUDUSD is consolidating near its December high after yesterday’s near 100 pip rally from the intraday low to high. Significantly, although the AUDUSD will have to break downchannel resistance (on the weekly chart) to halt the downtrend since late February, odds are moderately high for a rally towards downchannel resistance by January sometime…
Silver (SI) is fairly advanced in its efforts to form a bottom after the sharp slide from the November peak. Significantly, SI’s December low has been roughly equal to the September low, potentially forming a Double Bottom…
The VIX (VX) is still sliding from yesterday’s surge peak, although in the early stages of trying to firm. Significantly, the VX is trying to form a higher low versus last week’s low, with odds moderately high for another VX surge to yesterday’s high before Xmas…
Soybean (ZS) is consolidating to start the week after 4 straight up days, digesting Friday’s break above triangle resistance (on the daily chart). Significantly, ZS appears to be gearing up for a renewed push higher from above the descending wedge resistance (on the weekly chart), with high odds for a grind higher before Xmas to the psychologically key 1300 whole figure level…
A new format for Crypto Weekly Outlook is taking form, where in light of the rapidly emerging and evolving opportunities in other top 50 coins (other than Bitcoin, Ethereum and Ripple), Crypto Weekly Outlook will 3 Sundays out of each month, provide technical analysis on 10 coins from the top 50 (in market cap) which appear the most interesting for the coming week…
