Cotton (CT) is firming going into today’s European morning, with CT trying to extend the upchannel (on the 4hr chart). Significantly, the break in ascending wedge support (on the daily chart) appears only mildly bearish going into next week, as the bigger picture is of CT retesting the 2021 high (in November)…
Month: January 2022
GBPAUD Nearing Weekly Chart Triangle Resistance
The GBPAUD is trying to edge higher and gravitate towards uptrend resistance (on the 4hr chart). Significantly, the GBPAUD has rebounded strongly so far this 1st week of the year, and is nearing triangle resistance (on the weekly chart)…
Gold (GC) Reclaims 50% Fib Retrace of November Slide
Gold (GC) is consolidating yesterday’s bounce off the psychologically key 1800 whole figure level in today’s Asia morning. Significantly, GC has reclaimed the 50% Fib retrace of the slide from the November peak, and appears to be gearing up for a test of the weekly chart triangle resistance sometime in January…
Nasdaq100 (NQ) Retesting Record High Ahead of Busy News Week
The Nasdaq100 (NQ) is edging higher going into today’s European morning, just shy of its record high. Significantly, NQ appears well positioned to further extend its upchannel (on the weekly chart) and is now moderately likely to test upchannel resistance this week…
Soybean (ZS) Reclaims 61.8% Fib Retrace of Jun-Nov Correction
Soybean (ZS) has bounced to start the year, and is now just shy of the December high. Significantly, ZS has reclaimed the 61.8% Fib retrace of the June to November correction, with upward momentum returning following ZS’ break above triangle resistance (on the 4hr chart)…