TOP50’sTOP10 (LTCUSD, XRPUSD, EOSUSD, XTZUSD, UNIUSD, MATICUSD, ETHUSD, ALGOUSD, ATOMUSD, DOTUSD)
Litecoin (LTCUSD) Retesting Key 0.90 Level
Month: May 2023
VIX (VX) Bounce Off 2023 Low Testing Key 20 Level
The VIX (VX) is consolidating for a second straight day Wednesday’s surge, appearing poised to continue next week efforts at a major bottom with the green weekly Tombstone trying to bounce off the 2023 low. Any break today above downchannel resistance (on the 4hr chart) and descending wedge resistance (on the daily chart) will dramatically increase odds next week of a break of the weekly chart descending wedge resistance….
Coffee Daily May 26, 2023
Arabica Coffee (KC) slid almost 3% yesterday to near the May low, closing below triangle support (on the daily chart). KC is now vulnerable to breaking upchannel support (on the weekly chart) and resuming the slide from the April high by month end…
USDCHF Breaks Weekly Chart Descending Wedge Resistance
The USDCHF is consolidating after surging from Monday’s low, hesitating at triangle resistance (on the daily chart) and digesting this week’s break above descending wedge resistance (on the weekly chart). With the USDCHF comfortably above the psychologically key 0.90 whole figure level, odds are decent for renewed momentum next week in the bounce off the 2023 low and the weekly chart descending wedge support…
Coffee Daily May 25, 2023
Arabica Coffee (KC) edged higher yesterday and should continue firming in the next day or so with last week’s halting of the slide from the April high. Any daily close before the weekend above triangle resistance (on the daily chart) will dramatically increase the likelihood of a test of the psychologically key 2 whole figure level and the May high before month end…
Natural Gas (NG) Retesting Key 2.5 Level
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Coffee Daily May 24, 2023
Arabica Coffee (KC) slid almost 1% yesterday, but should be firming in the next day or so with last week’s halting of the slide from the April high. Any break before the weekend above triangle resistance (on the daily chart) will dramatically increase the likelihood of a test of the psychologically key 2 whole figure level and the May high before month end…
VIX (VX) Tests Daily Chart Descending Wedge Resistance
The VIX (VX) is consolidating Friday’s bounce off the fresh 2023 low, but remains at moderately low risk of sliding further this week to the daily chart descending wedge support one final time. Any break above downchannel resistance (on the 4hr chart) in the next few days will likely coincide with a reclaiming of the psychologically key 20 whole figure level…
Coffee Daily May 23, 2023
Arabica Coffee (KC) slid almost 1.5% yesterday on profittaking, but appears nevertheless to have halted the slide from the April high. A test of the weekly chart upchannel support before month end is now less likely than a reclaiming of the psychologically key 2 whole figure level and the May high during the same period…
Soybean (ZS) Tests 2022 Low
Soybean (ZS) is trying to firm to start the week, but remains vulnerable this week to extending the slide from the 2023 high to a fresh 2023 low. Although ZS is increasingly likely to see some short covering as it probes its 2022 low and tests downchannel support (on the 4hr chart), odds are elevated for a deeper slide by Q3 sometime to the 2021 low (formed that November) near the 61.8% Fib retrace of the May 2019 to June 2022 bull market (as can be seen more easily on a monthly chart on tradingview.com)…