Nasdaq100 (NQ) is trying to hold the 2022 low going into year end as seen by the near complete weekly Hammer. Nevertheless, NQ appears less likely to bounce back by late January to descending wedge resistance (on the weekly chart) than it is to break in the same period below the 2022 low to wedge support…
Arabica Coffee (KC) slid more than 2% yesterday, closing just below the December high. A higher December low versus the November low is all but certain…
The AUDUSD is edging higher as its month plus consolidation around downchannel resistance (on the weekly chart) approaches completion. Regardless of any retest of the consolidation range low next week, the AUDUSD has all but made a major bottom in October, halting a slide since early 2021 (as can be seen easier on a monthly chart on tradingview.com)…
Arabica Coffee (KC) rebounded almost 4% yesterday, nearing the December high. A higher December low versus the November low is all but certain. Odds are decent that a major bottom has been made within the consolidation since February, with this low formed on the overshoot below the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58)…
Gold (GC) continues in its month long consolidation after pushing to a fresh December high yesterday. Regardless of the low liquidity in this holiday shortened week, odds are decent going into mid next week for GC to extend its ascending wedge (on the daily chart) and to resume its Bull Flag (on the weekly chart)…
Arabica Coffee (KC) gave back almost 3% yesterday, hesitating near the December high. A higher December low versus the November low remains more likely than for KC to form a fresh December and 2022 low before year end…
Nasdaq100 (NQ)’s Dead Cat Bounce (off the October low) is all but over, but is trying to hold the 2022 low going into year end. Nevertheless, NQ appears less likely to bounce back by early January to descending wedge resistance (on the weekly chart) than it is to break in the same period to a fresh 2022 low…
Arabica Coffee (KC) edged up almost 2% Friday, closing near the December high. With KC testing weekly chart descending wedge resistance, a higher December low versus the November low is increasingly and rather likely, which if successful and reinforced by a higher December high versus the November high, would dramatically increase odds that a major bottom has been made within the consolidation since February…
Nasdaq100 (NQ)’s Dead Cat Bounce (off the October low) is all but over as seen by the sharp reversal from the December high to near the 2022 low. NQ appears less likely to bounce back before year end to descending wedge resistance (on the weekly chart) than it is to break in the same period to a fresh 2022 low…
Arabica Coffee (KC) formed a 2nd straight daily Hammer yesterday, consolidating just below descending wedge/triangle resistance (on the daily chart). With KC testing another weekly chart descending wedge resistance line, a higher December low versus the November low is increasingly and rather likely, which if successful and reinforced by a higher December high versus the November high, would dramatically increase odds that a major bottom has been made within the consolidation since February…
