Arabica Coffee (KC) slid another 0.5% plus yesterday, but is showing early signs of trying to halt the slide from the August high with a weekly Doji trying to form. 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 testing the 2022 low early this week…
Nasdaq100 (NQ) is extending yesterday’s strong ~3% rebound, breaking above downchannel resistance (on the daily chart). NQ appears to be in the early stages of what will likely be a month long or so Dead Cat Bounce…
Corn (ZC) is edging lower to start the week as part of the consolidation near the psychologically key 700 whole figure level and triangle resistance (on the weekly chart). With ZC having at last week’s peak clawed back above the 61.8% Fib retrace of the May to July slide, any deeper profittaking this week is unlikely to break below the 38.2% Fib…
Arabica Coffee (KC) slid another near 3% Friday, closing decisively below descending triangle support (on the daily chart). With the weekly 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 is vulnerable to testing the 2022 low early this week…
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Cocoa (CC) bounced a massive near 3% yesterday, closing just shy of the week’s high. CC appears poised to close the week with a weekly Hammer above descending wedge resistance (on the weekly chart)…
Arabica Coffee (KC) slid another 3.5% plus yesterday, breaking descending triangle support (on the daily chart). Although a multi-day bounce could begin today off the psychologically key 2 whole figure level which coincides with the downtrend support (on the 4hr chart), KC is vulnerable to testing the weekly chart downchannel support by month end…
The GBPAUD is nearly complete in an ascending triangle (on the 4hr and daily chart), but appears in need of a breather before gravitating going into month end to the psychologically key 1.80 whole figure level. With the GBPAUD having reclaimed the 50% Fib retrace of the February to September slide, odds are suddenly moderate for a retest of the 2022 high by year end…
Arabica Coffee (KC) formed a third straight daily Doji yesterday, nearing completion on the triangle (on the daily chart). KC remains vulnerable to extending its downchannel (on the weekly chart), retesting the 50% Fib retrace of the July to August rally…
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