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…
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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…
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…
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) 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)…
Arabica Coffee (KC) surged almost 3% Friday, halting the slide from the April high. A test of the weekly chart upchannel support sometime this week is now less likely than a reclaiming of the psychologically key 2 whole figure level and the May high before month end…
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The S&P500 (ES) is consolidating after surging for 2 straight days to a fresh 2023 high and triangle resistance (on the weekly chart). Odds are now elevated for the ES to join the NQ in gravitating to the 61.8% Fib retrace of the slide from the January 2022 high to October 2022 low (as can be seen more easily on a weekly chart on tradingview.com) by month end…
Arabica Coffee (KC) edged higher yesterday, closing at the 4hr chart downtrend resistance. KC does not appear to have much more downside in its slide from the April high given yesterday’s second straight daily Hammer…
