Arabica Coffee (KC) tacked on more than 2% yesterday, closing near the January high. Significantly, KC closed at downchannel resistance (on the daily chart) and has bounced off the weekly chart uptrend support…
The EURUSD is consolidating going into today’s European morning after 3 straight days of gains. Significantly, the EURUSD is once again trying to halt the downchannel (on the weekly chart), with a test of downchannel resistance coming as early as after today’s 745am EST release of the ECB’s Main Refinancing Rate and Monetary Policy Statement, or following the 830am EST ECB Press Conference…
Natural Gas (NG) is trying to firm in its 3rd day of consolidating, edging back towards the psychologically key 5 whole figure level. Significantly, with NG testing the 61.8% Fib retrace of the October to December 2021 slide, odds are fairly elevated for a deeper consolidation to begin Thursday following the highly anticipated weekly storage data…
The Nasdaq100 (NQ) rebounded a massive 3% plus yesterday, and is just shy of the psychologically key 15k whole figure level. Significantly, although NQ may break above downchannel resistance (on the daily chart) with today’s 10am EST US ISM Manufacturing data, Wednesday’s US ADP Non-Farm Employment Change, Thursday’s US ISM Services PMI or Friday’s highly anticipated US Non-Farm Payrolls (NFP), any further upside before the weekend will likely stall at the 50% Fib retrace of the November to January slide…
