Natural Gas (NG) is consolidating after rallying another more than 2.5% yesterday, and is increasingly well positioned to reversing the sharp selloff from the February high. Significantly, odds are high for NG to break above the 50% Fib retrace of the January-February rally, coinciding with the psychologically key 4.5 whole figure level, by the weekend…
Month: February 2022
VIX (VX) Consolidates After Surging to Near Key 30 Level
The VIX (VX) is consolidating after yesterday’s intraday surge to near the psychologically key 30 whole figure level. Significantly, although the VX may see a bit more healthy profittaking today after the strong bounce from last week’s low, odds are high for a retest of the January high in February…
Wheat (ZW) Breaks Back Above Key 800 Level
Wheat (ZW) opened the week decisively above the psychologically key 800 whole figure level. Significantly, ZW has halted a slide from the 2021 peak, and appears to be readying to resume the uptrend (on the weekly chart)…
Bitcoin (BTCUSD) Weekly MACD Trying to Positively Cross
TOP50’s TOP10 (BTCUSD, XTZUSD, XRPUSD, ETHUSD, FTTUSD, CROUSD, SANDUSD, MANAUSD, AVAXUSD, TRXUSD)
Arabica Coffee (KC) Weekly MACD Trying to Positively Cross
Arabica Coffee (KC) pulled back more than 1% yesterday on healthy profittaking, consolidating Wednesday’s surge to a fresh 2022 high (above the 2021 peak). Significantly, KC’s decisive resumption of the weekly chart upchannel/uptrend this week suggests high odds for a test of upchannel/uptrend resistance before month end…
EURJPY Consolidating Near Daily Chart Upchannel Resistance
The EURJPY is consolidating for a 5th day near ascending triangle resistance (on the 4hr chart). Significantly, the EURJPY appears poised to resume its breakout last week, above a triangle resistance (on the weekly chart)…
Gold (GC) Bouncing Off Weekly Chart Triangle Support
Gold (GC) appears ready for consolidation in the next day or so after the strong bounce this past week off the psychologically key 1800 whole figure level. Significantly, GC has rebounded off triangle support (on the weekly chart), with a decent likelihood of completing this triangle by month end…
Nasdaq100 (NQ) Retesting Daily Chart Downchannel Resistance
The Nasdaq100 (NQ) is consolidating for a 6th straight day near downchannel resistance (on the daily chart). Significantly, NQ is nearing completion of a triangle (on the 4hr chart), with the current red weekly candle trying to form following last week’s weekly Gravestone suggesting a moderately high likelihood for a Bear Flag extension this week…
Wheat (ZW) Trying to Halt Daily Chart Downchannel Ahead of WASDE
Wheat (ZW) is edging up more than 0.5% to start the week, enjoying a gap up after breaking above descending wedge resistance (on the 4hr chart) Friday. Significantly, ZW appears to have halted a slide from the January peak, dramatically increasing the odds of testing the daily chart downchannel resistance in February…
Polkadot (DOT) Breaking 4 Month Descending Wedge Resistance
TOP50’s TOP10 (DOTUSD, NEARUSD, SOLDUSD, AVAXUSD, TRXUSD, XTZUSD, ATOMUSD, MATICUSD, ALGOUSD, FTMUSD)