Wheat (ZW) is pushing higher to start the week, appearing poised to complete a 5 week plus Bull Flag consolidation (or daily chart triangle). Interestingly, the correction from the March high was halted near the 50% Fib retrace of the war surge, just below the psychologically key 1000 whole figure level…
Month: April 2022
Near Protocol (NEARUSD) Consolidating Near Key 15 Level
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Raw Sugar Weekly Doji Near Key .20 Level
SB spent the past week consolidating the Bull Flag extension from the prior week, closing the Good Friday holiday-shortened week around the psychologically key 0.20 whole figure level. Odds are moderately high for a test of the 2017 high before month end…
GBPUSD Bounces Off Key 1.30 Level
The GBPUSD bounced roughly 100 pips higher yesterday, breaking descending wedge resistance (on the daily chart). The bigger picture is of the GBPUSD making early efforts at halting its downtrend (on the weekly chart), where another green weekly candle next week would reinforce the early stage Double Bottom effort…
Gold (GC) Bouncing off Weekly Chart Upchannel Support
Gold (GC) has bounced off upchannel support (on the weekly chart) and is in the advanced stages of completing the month plus consolidation from the 2022 high. Odds are high for more upward momentum today with GC trying to extend the upchannel (on the 4hr chart) and GC near the highest level in a month…
VIX (VX) Near 38.2% Fib Retrace of March Slide
The VIX (VX) is edging higher in today’s Asia morning, gravitating towards the April high. Significantly, the VX has bounced strongly from last week’s fresh 2022 low, and appears poised to retest prior upchannel support (on the weekly chart)…
Wheat (ZW) Reclaims 50% Fib Retrace of War Surge
Wheat (ZW) rallied in today’s Asia morning to start the week, halting the month plus slide from the 2022 high. Significantly, ZW has reclaimed the 50% Fib retrace of the war surge after strongly bouncing off from the psychologically key 1000 whole figure level…
Cardano (ADAUSD) Weekly MACD Positively Crossing
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Raw Sugar (SB) Testing Key .20 Level
Raw Sugar (SB) gained more than 1% yesterday, briefly breaking above the psychologically key 0.20 whole figure level. Significantly, SB is extending its rally from triangle resistance (on the daily chart), arguably completing a massive Bull Flag consolidation since September…
USDCAD Daily MACD Positively Crossing
The USDCAD is gaining for a 2nd straight day, and now comfortably back above the psychologically key 1.25 whole figure level. Significantly, the USDCAD has bounced off Monday’s fresh 2022 low, and is nearing the 38.2% Fib retrace of the March to April slide…