Arabica Coffee (KC) formed another daily Doji yesterday near a fresh 2022 low, continuing to show early signs of trying to halt the slide from the August high. KC would need to bounce above last week’s high and the psychologically key 2 whole figure level to halt an extending of its fall before month end to the weekly chart descending wedge/downtrend support (near the 50% Fib of the June 2020 to February 2022 bull market)…
Month: October 2022
Wheat (ZW) Gives Up Half of Aug-Sep Bounce
Wheat (ZW) is looking wobbly to start the week, remaining vulnerable to a deeper consolidation this week towards descending wedge support (on the 4hr chart). Odds are moderately high for a lower October low versus the September low. ZW does not appear likely for now though to form a fresh 2022 low before year end. The escalation in the Ukraine-Russia conflict deserves close monitoring…
Coffee Daily Oct 24, 2022
Arabica Coffee (KC) formed another daily Doji Friday near a fresh 2022 low, continuing to show early signs of trying to halt the slide from the August high. KC would need to bounce above last week’s high and the psychologically key 2 whole figure level to halt an extending of its fall before month end to the weekly chart descending wedge/downtrend support (near the 50% Fib of the June 2020 to February 2022 bull market)…
Bitcoin (BTCUSD) Continues Trying to Bottom Near Dec17 High
TOP50’sTOP10 (BTCUSD, XRPUSD, XTZUSD, MANAUSD, DOTUSD, CROUSD, AVAXUSD, MATICUSD, SOLUSD, EOSUSD)
Cocoa (CC) Consolidating Near Weekly Chart Downtrend Resistance
Cocoa (CC) bounced almost 1% yesterday, closing just below descending wedge resistance (on the weekly chart). A weekly close above the 38.2% Fib retrace of the February to September slide is moderately likely by month end, and would dramatically increase the likelihood of a retest in the week after, of the 50% Fib retrace of the February to September slide, coinciding with the psychologically key 2500 whole figure level…
Coffee Daily Oct 21, 2022
Arabica Coffee (KC) slid more than 0.5% yesterday to a fresh 2022 low but continues to show early signs of trying to halt the slide from the August high with yesterday’s daily Doji. KC would need to bounce above this week’s high and the psychologically key 2 whole figure level to halt an extending of its fall before month end to the weekly chart descending wedge/downtrend support (near the 50% Fib of the June 2020 to February 2022 bull market)…
GBPAUD Consolidating Just Below Key 1.80 Level
The GBPAUD is consolidating around what is arguably downchannel resistance (on the weekly chart), taking a breather after breaking Monday above the psychologically key 1.80 whole figure level. Although today’s sliding below an uptrend support (on the daily chart) increases odds for the healthy pullback to deepen, a break below the 50% Fib retrace of the February to September slide before month end does not appear likely…
Coffee Daily Oct 20, 2022
Arabica Coffee (KC) slid nearly 1.5% lower with a daily Hammer yesterday, but is showing early signs of trying to halt the slide from the August high with somewhat of a weekly Doji trying to form around the 2022 low. KC would need to bounce above this week’s high and the psychologically key 2 whole figure level to halt an extending of its fall before month end to the 50% Fib near 1.77, coinciding with the weekly chart descending wedge/downtrend support (near the 50% Fib of the June 2020 to February 2022 bull market)…
Silver (SI) Tries Halting Slide Towards 2022 Low
Silver (SI) is consolidating near downchannel resistance (on the 4hr chart), trying to halt the slide since the October high. Before bulls get excited, they’ll need to see a reclaiming of the psychologically key 20 whole figure level, which would dramatically increase odds of a test of the October high in the few days after…
Coffee Daily Oct 19, 2022
Arabica Coffee (KC) edged lower with a daily Hammer yesterday, but is showing early signs of trying to halt the slide from the August high with a weekly Doji trying to form near the 2022 low. Nevertheless, with yesterday’s close below the psychologically key 2 whole figure level and the 38.2% Fib retrace of the June 2020 to February 2022 bull market (seen more easily on a monthly chart on tradingview.com), KC remains vulnerable to breaking the 2022 low this week…