The VIX (VX) is trying to firm after sliding from last week’s 2023 high, but remains vulnerable to retesting the 2023 low and the psychologically key 20 whole figure level going into April. Any reclaiming of this week’s high will likely have to wait until next week, and would dramatically increase the odds of testing the key 25 level in the few days after…
Month: March 2023
Coffee Daily March 31, 2023
Arabica Coffee (KC) formed a red daily Doji yesterday near a fresh March low, just below the February low and the daily chart triangle support. With the current red weekly candle body a fair length, odds are elevated for an extension (going into April) of the downchannel (on the weekly chart) to a lower April low versus the March low…
EURUSD Weekly Chart Bull Flag Consolidation Near Complete
The EURUSD is in the late stages of a Bull Flag consolidation (on the weekly chart) after forming a fresh March high last week. Odds are elevated for an extension of the upchannel (on the weekly chart) to a fresh 2023 high and the psychologically key 1.10 whole figure level by early April…
Coffee Daily March 30, 2023
Arabica Coffee (KC) slid more than 2% yesterday, closing at the daily chart triangle support at a fresh March low. With the current red weekly candle body lengthening, odds are elevated for an extension (going into April) of the downchannel (on the weekly chart) below the February low…
Silver (SI) Weekly MACD Trying to Positively Cross
Silver (SI) is consolidating with its weekly Hammer after the monster rally from the 2023 low (formed 3 weekly candles ago) around the psychologically key 20 whole figure level. Nevertheless, a deeper pullback to below the 50% Fib retrace of the January to March slide before month end is unlikely…
Coffee Daily March 29, 2023
Arabica Coffee (KC) slid more than 1.5% yesterday, closing near the daily chart triangle support just shy of the March low. With the current red weekly candle body lengthening, odds are elevated for an extension (going into April) of the downchannel (on the weekly chart)…
S&P500 (ES) Daily Chart Triangle Near Complete
The S&P500 (ES) is trying to form a weekly Doji just above the psychologically key 4k whole figure level. Although ES managed to hold the 2023 low 2 weeks ago, the ES has been reluctant to extend its subsequent bounce…
Coffee Daily March 28, 2023
Arabica Coffee (KC) slid more than 1% yesterday, closing back near the prior 4hr chart downchannel resistance and once again gravitating towards the March low. Although the 4th straight weekly Hammer, Doji or Gravestone trying to form suggests a reluctance for KC to extend its downchannel (on the weekly chart), KC will need a daily close above the daily chart triangle resistance this week to avoid a break below the February low in April…
Wheat (ZW) Consolidating Bounce Off Fresh 2023 Low
Wheat (ZW) is consolidating to start the week after last week’s bounce off a fresh 2023 low. Although ZW could retest in the next week or so the weekly chart descending wedge support, odds are increasing and moderate for a test of the same wedge’s resistance before month end…
Coffee Daily March 27, 2023
Arabica Coffee (KC) rebounded more than 2.5% Friday, closing back above the prior 4hr chart downchannel resistance after nearing the March low. With last week’s weekly candle having closed green just below downchannel resistance (on the weekly chart), KC suddenly appears poised for a daily close above the daily chart triangle resistance early week…