Corn (ZC) gapped up more than 2% to start the week, but is likely to consolidate these next few days as it bumps against the psychologically key 700 whole figure level and triangle resistance (on the weekly chart). With the rebound off upchannel support (on the weekly chart), odds are decent for a test of the same upchannel’s resistance, coinciding roughly with the 2022 high, before year end…
Arabica Coffee (KC) slid a massive 5% plus Friday, closing at another fresh 2022 low. With last week’s break below the weekly chart descending wedge/downtrend support and the 50% Fib of the June 2020 to February 2022 bull market (near 1.775, odds are high for KC to test the 61.8% Fib (near 1.58) by November sometime. Any reclaiming of downchannel support (on the daily chart) will likely coincide with a break above the 4hr chart descending wedge resistance…
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Cocoa (CC) bounced more than 1.5% yesterday, closing back above the psychologically key 2300 whole figure level. With the near complete weekly Doji, odds are now elevated for a higher Oct low versus the September low…
Arabica Coffee (KC) slid another 0.5% yesterday to a fresh 2022 low. Nevertheless, odds are elevated for KC to close this week around the weekly chart descending wedge/downtrend support which coincides roughly with the 50% Fib of the June 2020 to February 2022 bull market (near 1.775)…
The EURUSD is consolidating after the strong bounce from the 2022 low (in September), and is at risk of seeing more healthy profittaking today as it bumps up against downchannel resistance (on the weekly chart). Regardless of any deeper pullback today, the EURUSD is progressing at forming a major bottom, with a high likelihood of a weekly close above the psychologically key 1.00 whole figure level…
Arabica Coffee (KC) slid another 3% plus yesterday to a fresh 2022 low. Nevertheless, odds are elevated for KC to find support by the weekend around the weekly chart descending wedge/downtrend support which coincides roughly with the 50% Fib of the June 2020 to February 2022 bull market (near 1.77)…
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Arabica Coffee (KC) slid another 2% plus yesterday to a fresh 2022 low. Nevertheless, odds are elevated for KC to soon find support at the weekly chart descending wedge/downtrend support which coincides roughly with the 50% Fib of the June 2020 to February 2022 bull market…
The S&P500 (ES) is consolidating after the bounce in the past week, pausing as it bumps against the October high. Odds are suddenly high for a Dead Cat Bounce to continue for much of November, and for a test of the psychologically key 4k whole figure level by early November…
