The Nasdaq100 (NQ) has bounced off downchannel support (on the daily and weekly chart) and is in the early stages of a bear market rally. Odds are high for a test by June sometime of the 38.2% Fib retrace of the January-May slide, while the probability of testing the 50% Fib coinciding with downchannel resistance (on the weekly chart) in the same period is moderately low…
Soybean (ZS) is hesitating as it retests ascending triangle resistance (on the weekly chart). When ZS reopens after a shortened holiday session, ZS could briefly burst to a fresh 2022 high, although healthy profittaking will likely kick in by mid week given that ZS is nearing upchannel resistance (on the 4hr chart)…
TOP50’sTOP10 (TRXUSD, SOLUSD, DOTUSD, AVAXUSD, CROUSD, XTZUSD, MATICUSD, MANAUSD, BNBUSD, SANDUSD)
Arabica Coffee (KC) surged a massive 4% plus yesterday, closing at downchannel resistance (on the daily chart). Significantly, KC has reclaimed the weekly chart’s upchannel support and the psychologically key 2.25 whole figure level…
The EURUSD is forming its 2nd straight green weekly candle, and has arguably halted its downtrend (on the weekly chart). With the EURUSD trying to bounce off uptrend support (on the 4hr chart), odds are high for a break above the 38.2% Fib retrace of the February to May downtrend extension before month end…
WTI Crude (CL) is in the advanced stages of a weekly chart Bull Flag consolidation, where the Bull Flag is arguably extending. Nevertheless, with CL bumping up against upchannel resistance (on the daily chart), CL is vulnerable to another pullback to last week’s low before month end…
The VIX (VX) is forming a weekly Doji/Hammer after last week’s weekly Doji, suggesting an unwillingness for the VX to dip much below the 61.8% Fib retrace of the April to May bounce. The VX is all but certain to form a substantially higher May low versus the April low, reinforcing the higher May high versus the April high…
Soybean (ZS) is hesitating to start the week, and appears ready to consolidate the strong gains over the past 2 weeks. Nevertheless, with the ascending triangle (on the weekly chart) in its advanced stages, any break to a fresh 2022 high will dramatically increase the likelihood of a retest of the 2012 record high in the week after…
TOP50’sTOP10 (BNBUSD, TRXUSD, SANDUSD, MANAUSD, FTTUSD, ATOMUSD, DOTUSD, SOLUSD, CROUSD, MATICUSD)…
Raw Sugar (SB) is in the advanced stages of a Bull Flag consolidation (since August/September). With SB having bounced yesterday off prior downchannel resistance (on the 4hr chart), odds are elevated for a weekly close back above the psychologically key 0.20 whole figure level…
