WTI Crude (CL) is trying to add to yesterday’s gains after breaking above the psychologically key 80 whole figure level. Any decisive surge above the slightly downsloping resistance line (on the daily chart) connecting the December and January highs will likely though have to wait until after Thursday’s highly anticipated weekly inventory data (postponed from today due to Monday’s US Dr Martin Luther King Jr Day holiday).
Month: January 2023
Coffee Daily Jan 18, 2023
Arabica Coffee (KC) formed a 2nd straight daily Hammer yesterday, closing just above the psychologically key 1.50 whole figure level. Odds are elevated for the rebound from Wednesday’s fresh 2023 low to continue gaining steam this holiday-shortened week as KC tries bouncing off downtrend/descending wedge support (on the weekly chart)…
Nasdaq100 (NQ) Nearing Weekly Chart Descending Wedge Resistance
Nasdaq100 (NQ) is consolidating after the strong short covering last week, taking a breather before it attempts an extension to descending wedge resistance (on the weekly chart) going into February. NQ does not appear likely to slide back to the 2022 low before month end, with any test of the psychologically key 10k whole figure level and weekly chart descending wedge support likely deferring until at least mid February…
Coffee Daily Jan 17, 2023
Arabica Coffee (KC) tacked on another 1.5% plus Friday, closing above the psychologically key 1.50 whole figure level. Odds are elevated for the rebound from Wednesday’s fresh 2023 low to continue gaining steam this holiday-shortened week as KC tries bouncing off downtrend/descending wedge support (on the weekly chart)…
Soybean (ZS) Nears 2022 High Post-WASDE
Soybean (ZS) gained for a 3rd straight day Friday following the WASDE Thursday. When ZS reopens in the shortened session (with today being Dr Martin Luther King Jr Day), ZS will likely make an attempt at testing the January high…
Coffee Daily Jan 16, 2023
Arabica Coffee (KC) tacked on another 1.5% plus Friday, closing above the psychologically key 1.50 whole figure level. Odds are elevated for the rebound from Wednesday’s fresh 2023 low to continue gaining steam this week as KC tries bouncing off downtrend/descending wedge support (on the weekly chart)…
Litecoin (LTCUSD) Breaks Above Dec High
TOP50’sTOP10 (LTCUSD, ETHUSD, BTCUSD, AVAXUSD, ATOMUSD, MATICUSD, BNBUSD, EOSUSD, UNIUSD, DOTUSD)
Nasdaq100 (NQ) Tries Bouncing To Weekly Chart Descending Wedge Resistance
Nasdaq100 (NQ) is consolidating after the strong short covering this week, taking a breather before it attempts an extension to descending wedge resistance (on the weekly chart) going into February. NQ does not appear likely to slide back to the 2022 low before month end, with any test of the psychologically key 10k whole figure level and weekly chart descending wedge support likely deferring until at least mid February…
Coffee Daily Jan 13, 2023
Arabica Coffee (KC) rebounded a massive near 4% yesterday from Wednesday’s fresh 2023 low, closing around the psychologically key 1.50 whole figure level. Odds are elevated for a continued firming going into next week as KC tries bouncing off downtrend/descending wedge support (on the weekly chart)…
GBPUSD Daily MACD Positively Crossing Ahead of US CPI
The GBPUSD is consolidating for a 3rd straight day near downchannel resistance (on the 4hr chart). The GBPUSD appears to be readying to complete (in the next week) the Bull Flag consolidation since the mid December high…