Arabica Coffee (KC) edged more than 0.5% lower Friday, closing a 3rd straight day below triangle support (on the daily chart). With KC breaking below the 50% Fib retrace of the July to August rally, and firmly within the downchannel (on the weekly chart), KC is at moderately high risk of testing the psychologically key 2.00 whole figure level before month end…
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Arabica Coffee (KC) rebounded more than 0.5% yesterday, closing a second day below triangle support (on the 4hr and daily chart). With KC retesting the 50% Fib retrace of the July to August rally, but still firmly within the downchannel (on the weekly chart), KC is at moderately high risk of testing the psychologically key 2.00 whole figure level before month end…
The GBPAUD has given up roughly 150 pips from yesterday’s high, getting rejected at downchannel resistance (on the daily chart). Although the GBPAUD appears at elevated risk of sliding back before the weekend to the psychologically key 1.70 whole figure level, and at moderate odds of testing upchannel support (on the 4hr chart) in the same period, the GBPAUD’s descending wedge (on the weekly chart) is nearing completion and unlikely to form a fresh 2022 low…
Arabica Coffee (KC) slid more than 2.5% yesterday, breaking triangle support (on the 4hr and daily chart). With KC closing below the 50% Fib retrace of the July to August rally, and firmly back within the downchannel (on the weekly chart), KC is at moderately high risk of testing the psychologically key 2.00 whole figure level before month end…
Silver (SI) is consolidating for a 2nd straight day, hesitating after bumping up against descending wedge resistance (on the weekly chart). Any break of upchannel support (on the 4hr chart) today will deepen SI’s profittaking…
Arabica Coffee (KC) slid almost 2% yesterday, breaking triangle support (on the 4hr chart) and upchannel support (on the daily chart). With KC testing the 50% Fib retrace of the July to August rally, and firmly back within the downchannel (on the weekly chart), KC is at risk of a deeper consolidation the balance of September…
Nasdaq100 (NQ) is slowing in its bounce off last week’s low, hesitating as what is arguably an ascending wedge (on the 4hr chart) nears completion. Nevertheless, NQ appears poised to at least test downtrend resistance (on the weekly chart) this week, where any recapture of the August high this month will likely extend the Dead Cat Bounce that began in June into October…
Arabica Coffee (KC) slid more than 1.5% yesterday, and is vulnerable to testing upchannel support (on the daily chart) this week as the triangle (on the 4hr chart) nears completion. Any break above the 4hr chart triangle resistance will dramatically increase the likelihood of extending the daily chart upchannel and breaking back above downchannel resistance (on the weekly chart)…
