Arabica Coffee (KC) slid another massive 4.5% plus yesterday, breaking to a fresh 2023 low. KC should begin firming today as it tests downtrend/descending wedge support (on the weekly chart)…
Coffee Daily Jan 12, 2023
Month: January 2023
Natural Gas (NG) Breaks Below 2022 Low
Natural Gas (NG) has broken below the 2022 low, but should be seeing a bounce in the next day or so as it tests downchannel support (on the daily chart). Regardless of the moderately high likelihood of a short covering rally going into next week, NG remains at roughly the same risk of a deeper slide to the psychologically key 3 whole figure level by month end…
Coffee Daily Jan 11, 2023
Arabica Coffee (KC) slid a massive 4.5% plus yesterday, breaking below the 2022 low and the psychologically key 1.50 whole figure level. With KC decisively below the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58), odds are elevated for a test of the weekly chart descending wedge support by month end…
Nasdaq100 (NQ) Tries Forming Another Dead Cat Bounce
Wheat (ZW) is starting the week consolidating for a 3rd straight day near the 2022 low, remaining vulnerable to a deeper slide towards descending wedge support (on the weekly chart) in January. With ZW below the 61.8% Fib retrace of the September 2016 to March 2022 bull market (as can be seen on a monthly chart on tradingview.com), ZW is moderately vulnerable to sliding back to the 2021 low just below the psychologically key 600 whole figure level sometime in Q1…
Coffee Daily Jan 10, 2023
Arabica Coffee (KC) edged lower with yesterday’s daily Gravestone, breaking below the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58). With KC just shy of the 2022 low, odds are elevated for a test of the psychologically key 1.50 whole figure level by early next week…
Wheat (ZW) Nearing 2022 Low Ahead of WASDE
Wheat (ZW) is starting the week consolidating for a 3rd straight day near the 2022 low, remaining vulnerable to a deeper slide towards descending wedge support (on the weekly chart) in January. With ZW below the 61.8% Fib retrace of the September 2016 to March 2022 bull market (as can be seen on a monthly chart on tradingview.com), ZW is moderately vulnerable to sliding back to the 2021 low just below the psychologically key 600 whole figure level sometime in Q1….
Coffee Daily Jan 9, 2023
Arabica Coffee (KC) slid another near 1.5% Friday, retesting the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58). With the weekly close near the 61.8% Fib, odds are elevated for a test this week of the 2022 low and the psychologically key 1.50 whole figure level…
Litecoin (LTCUSD) Retesting Dec High
TOP50’sTOP10 (LTCUSD, BTCUSD, ETHUSD, AVAXUSD, ATOMUSD, UNIUSD, MATICUSD, EOSUSD, BNBUSD, DOTUSD)
Nasdaq100 (NQ) Just Above 2022 Low Ahead of NFP
Nasdaq100 (NQ) is at elevated risk of a descending wedge extension (on the 4hr and weekly chart) in the next week. 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…
Coffee Daily Jan 6, 2023
Arabica Coffee (KC) slid just shy of 0.5% yesterday, and suddenly appears poised for a retest by the weekend of the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58). Any weekly close below the 61.8% Fib would dramatically increase the likelihood of a test of the 2022 low and the psychologically key 1.50 whole figure level sometime next week….