Arabica Coffee (KC) gained another more than 2% yesterday, with the weekly Hammer lower shadow suggesting a refusal to slide back to the psychologically key 2 whole figure level. A weekly close above last week’s high will dramatically reduce the likelihood that KC is in the advanced stages of a Head & Shoulders (on the weekly chart)…
Arabica Coffee (KC) gained another more than 2% yesterday, with the weekly Hammer lower shadow suggesting a refusal to slide back to the psychologically key 2 whole figure level. A weekly close above last week’s high will dramatically reduce the likelihood that KC is in the advanced stages of a Head & Shoulders (on the weekly chart)…
The GBPUSD has spent this week catching its breath just above descending wedge resistance (on the weekly chart). Volatility is about to surge following today’s 7am EST BoE monetary policy report/summary and rate announcement, the 730am EST comments from BoE governor Bailey, and Friday’s highly anticipated US Non-Farm Payrolls (NFP)…
Arabica Coffee (KC) rebounded more than 2% yesterday, refusing to slide back to the psychologically key 2 whole figure level. KC will need to rebound back to last week’s high in the next few days to avoid returning to the advanced stages of a Head & Shoulders (on the weekly chart), and to more resemble an extended Bull Flag consolidation…
Silver (SI) is consolidating just above descending wedge resistance (on the weekly chart), making progress in its efforts to form a major bottom. Another weekly close above the psychologically key 20 whole figure level will dramatically increase the likelihood of a test sometime in August of the 38.2% Fib retrace of the March to July slide…
Arabica Coffee (KC) slid more than 1.5% lower yesterday, increasingly vulnerable to retesting the psychologically key 2 whole figure level. KC will need to rebound back to last week’s high in the next few days to avoid returning to the advanced stages of a Head & Shoulders (on the weekly chart), and to more resemble an extended Bull Flag consolidation..
The S&P500 (ES) is hesitating in its month plus Dead Cat bounce to just above the 38.2% Fib retrace of the January to June slide. Yesterday’s break above downchannel resistance (on the weekly chart from April to July) has been weak, with decent odds for a slide back this week to the psychologically key 4k whole figure level…
Arabica Coffee (KC) slid almost 2% lower yesterday, closing just below the June low. Irrespective of any healthy profittaking this week after the bounce off the July low, KC no longer appears to have made a Head & Shoulders (on the weekly chart), resembling more an extended Bull Flag consolidation…
Soybean (ZS) is tiring after last week’s massive rebound, with ZS just shy of the psychologically key 1500 level. ZS appears vulnerable to breaking upchannel support (on the 4hr chart) in the next few days, and will likely want to spend the next week or so catching its breath near the 50% Fib retrace of the June to July slide…
Arabica Coffee (KC) edged lower Friday, closing near the June low. KC no longer appears to have made a Head & Shoulders (on the weekly chart), resembling more an extended Bull Flag consolidation…
