USDCAD Trying to Reclaim Key 1.30 Level

The USDCAD is trying to halt the pullback that began at the 2022 high a bit more than a week ago, with the weekly Hammer assuring a higher June low versus the May low. Any break of the downchannel resistance (on the 4hr chart) will dramatically increase the likelihood of reclaiming the psychologically key 1.30 whole figure level and 2022 high in the few days after…

Cotton (CT) Suffers Biggest Weekly Loss Since 2011

Cotton (CT) is trying to form its 5th straight red daily candle as part of the biggest weekly drop since at least June 2011. Although odds are decent that the break below the psychologically key 1 whole figure level is an overshoot and false break, CT appears to still be weighed by a gravitational pull towards the 61.8% Fib retrace of the April 2020 to May 2022 bull market (as can be seen on tradingview.com)…