Raw Sugar (SB) formed a second straight daily Hammer yesterday, and appears poised to test downchannel resistance (on the weekly chart) by next week sometime. Yesterday’s close just shy of the 38.2% Fib retrace of the April to September slide dramatically increases the odds of SB breaking above the October high and the psychologically key 0.19 whole figure level by mid November…
Arabica Coffee (KC) slid a massive 5% plus yesterday, closing back below the psychologically key 1.75 whole figure level. With KC trying to form a weekly Gravestone at the weekly chart downtrend support, odds are still decent for a bounce next week back above the 50% Fib of the June 2020 to February 2022 bull market (near 1.775)…
The GBPAUD is consolidating just above what is arguably downchannel resistance (on the weekly chart), forming a 3rd straight daily Doji/Hammer near the psychologically key 1.80 whole figure level. Although the GBPAUD remains slightly above the 61.8% Fib retrace of the February to September slide, after the powerful bounce off the September low, a healthy pullback to the 50% Fib sometime in November is moderately likely…
Arabica Coffee (KC) rebounded more than 4% yesterday, closing back above the psychologically key 1.80 whole figure level. KC is gaining momentum on its bounce off the swing low from the August high after yesterday’s break above descending wedge resistance (on the daily chart)…
Silver (SI) is consolidating after yesterday’s near 3% bounce to the psychologically key 20 whole figure level. SI appears to be in the advanced stages of forming a major bottom after a higher October high/low versus the September high/low…
Arabica Coffee (KC) slid more than 1.5% yesterday, closing around the psychologically key 1.75 whole figure level. KC appears to be in the early stages of forming a bottom on the swing down from the August high, arguably consolidating around descending wedge resistance (on the daily chart)…
The S&P500 (ES) is consolidating after closing October at its high, catching its breath as it tests the 50% Fib retrace of the August to October slide. Regardless of any deeper pullback this week towards last week’s low, ES appears poised for upside in its Dead Cat Bounce towards the psychologically key 4k whole figure level in the next week or so…
Arabica Coffee (KC) rebounded a massive 4.5% plus yesterday, closing above the psychologically key 1.75 whole figure level. With yesterday’s bounce off Friday’s fresh 2022 low, KC is suddenly testing descending wedge resistance (on the 4hr chart) and trying to reclaim a downchannel support (on the daily chart)…
