Arabica Coffee (KC) slid almost 2% Friday, getting rejected at triangle resistance (on the daily chart). Nevertheless, the weekly Doji close last week just above the psychologically key 175 whole figure level suggests KC has largely halted the downside in the consolidation since the February high…
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The VIX (VX) has seen strong profittaking from Wednesday’s fresh 2023 peak, but should be finding support soon as it drifts back towards this week’s low, just above where the VX had broke above the weekly chart descending wedge resistance. Any weekly close above the psychologically key 25 whole figure level would dramatically increase odds for a retest of this week’s high in the few days after…
Arabica Coffee (KC) rebounded a massive 4% plus yesterday, trying to reclaim upchannel support (on the daily chart). With yesterday’s surge back to around the psychologically key 180 whole figure level and just above the 38.2% Fib retrace of the January to February bounce, KC appears to have halted the downside in the consolidation since the February high…
The GBPUSD is trying to firm after getting rejected at downchannel resistance (on the daily chart) and sliding roughly 100 pips. Regardless of any further profittaking in the next day or so, odds are elevated for a resumption of the rally off last week’s fresh 2023 low to the 2023 high by April sometime…
Arabica Coffee (KC) slid more than 1.5% yesterday, falling further below upchannel support (on the daily chart). KC is edging below the psychologically key 175 whole figure level, but should halt the consolidation from the February high once it hits the 50% Fib retrace of the January to February bounce…
Gold (GC) is consolidating for a second straight day after the massive surge off last week’s low just above the 2023 low. A further drift lower ahead of the weekend should find support around the 38.2% Fib retrace of the February to March slide…
Arabica Coffee (KC) slid more than 2% yesterday, breaking back below upchannel support (on the daily chart). With yesterday’s rejection at downchannel resistance (on the 4hr chart), KC appears vulnerable to a deepening in the consolidation from the February high…
The S&P500 (ES) is trying to form a weekly Doji after rebounding off near the 2023 low and the 61.8% Fib retrace of the October to February bounce. Although odds are now moderate for this week’s short covering to spring ES back to the psychologically key 4k whole figure level, ES is less likely to retest the weekly chart downchannel resistance before month end than it is to slide below the November low in the same period…
Arabica Coffee (KC) edged up yesterday with its daily Hammer bouncing off upchannel support (on the daily chart). A decisive break today above downchannel resistance (on the 4hr chart) appears fairly likely and would end the consolidation from the February high…
