Corn (ZC) has gapped up to start the week (on a continued escalation in the Ukraine-Russia conflict), bouncing Friday off upchannel support (on the daily chart). Significantly, ZC is trying to make another push towards the psychologically key 700 whole figure level, which if successful, will likely be followed in the day or so after by a test of the 2022 high formed Thursday…
TOP50’sTOP10 (LUNAUSD, ATOMUSD, FTTUSD, XRPUSD, AVAXUSD, MANAUSD, BTCUSD, ETHUSD, CROUSD, XTZUSD)
Cocoa (CC) slid almost 2% yesterday, closing just above the 50% Fib retrace of the December to February rally. Significantly, with the weekly Doji forming, CC is trying to halt the correction since the 2022 peak (above the 2021 and 2020 high) 2 weeks back…
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Natural Gas (NG) is firming after yesterday’s healthy profittaking, trying to bounce off uptrend support (on the 4hr chart) and the psychologically key 4.5 whole figure level. Significantly, NG is forming a weekly Gravestone, and somewhat of a triangle (on the weekly chart) suggesting a moderately low likelihood of NG sliding back towards triangle support in the next week or so…
The Nasdaq100 (NQ) is trying to firm as seen by the daily Doji forming, with a moderate probability for a bounce in the next day or so off downchannel support (on the 4hr chart) to the psychologically key 14k whole figure level. Significantly, regardless of any near term Dead Cat Bounce, today’s break of descending triangle support (on the daily chart) and the January low, suggests a looming Bear Flag extension…
Soybean (ZS) edged higher Friday, closing just shy of its 2022 high (from the week before). Significantly, although ZS appears poised to gravitate to the 2021 high on its continuous chart (seen on tradingview.com), the May contract seems primed for some healthy profittaking as suggested by last week’s weekly Hammer following a weekly Gravestone…
TOP50’s TOP10 (BTCUSD, XRPUSD, ETHUSD, FTTUSD, AVAXUSD, CROUSD, XTZUSD, MANAUSD, SANDUSD, TRXUSD)
Cotton (CT) is firming in today’s Asia morning, trying to bounce for a second straight day off downchannel support (on the 4hr chart). Significantly, regardless of any short covering going into next week, CT has been rejected at upchannel resistance (on the weekly chart) and the psychologically key 1.25 whole figure level…
The AUDJPY is gaining for a 3rd straight day and week after today’s Asia morning release of Australian employment data. Significantly, the AUDJPY is quickly nearing last week’s high, with any weekly close above the 2022 high to dramatically increase the odds of testing the 2021 high in the month after…
