Arabica Coffee (KC) edged almost 1.5% higher Friday after the US Thanksgiving holiday, closing just above prior downchannel resistance (on the daily chart). KC appears to have formed a major bottom just above the psychologically key 1.50 whole figure level, reclaiming the descending wedge/downtrend support (on the weekly chart)…
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Arabica Coffee (KC) slid more than 1% Wednesday on healthy profittaking (with yesterday being the US Thanksgiving holiday), closing near prior downchannel resistance (on the daily chart). Nevertheless, KC appears to have formed a major bottom just above the psychologically key 1.50 whole figure level, and is trying to reclaim the descending wedge/downtrend support (on the weekly chart)…
The EURUSD is trying to gain for a 3rd straight day, nearly complete on the Bull Flag consolidation of the past week after forming a fresh November high. Odds are elevated for a test of the psychologically key 1.05 whole figure level before the weekend…
Arabica Coffee (KC) slid more than 1% yesterday on healthy profittaking, closing near prior downchannel resistance (on the daily chart). Nevertheless, KC appears to have formed a major bottom just above the psychologically key 1.50 whole figure level, and is trying to reclaim the descending wedge/downtrend support (on the weekly chart)…
Silver (SI) appears to have found its floor in the consolidation that began last week, refusing to slide much below the 38.2% Fib retrace of the March to September slide. With SI having formed a major bottom within the consolidation since August 2020 (as can be seen more easily on a monthly chart on tradingview.com), SI is likely to regain last week’s high before month end, with odds now moderate for a test of the May high before year end…
Arabica Coffee (KC) gained another almost 3% yesterday, breaking above downchannel resistance (on the daily chart). KC appears to have formed a major bottom just above the psychologically key 1.50 whole figure level, reclaiming the descending wedge/downtrend support (on the weekly chart)…
The S&P500 (ES) spent the past week consolidating mostly between the 50% and 61.8% Fib retrace of the August to October slide. A daily close above the psychologically key 4k whole figure level and 61.8% Fib would dramatically increase the likelihood of ES reclaiming the September high by month end…
Arabica Coffee (KC) rebounded a massive 4% plus yesterday, refusing to slide to the psychologically key 1.50 whole figure level and closing at downchannel resistance (on the daily chart). Odds are elevated for a reclaiming of the descending wedge/downtrend support (on the weekly chart), with KC now back above the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58)…
