Arabica Coffee (KC) slid more than 2% yesterday, but managed to close just above descending wedge/downtrend support (on the weekly chart) and descending wedge resistance (on the daily chart). Although KC has slid back below the 4hr chart downchannel resistance, odds remain decent for a decisive break in the next day or so above this resistance…
Soybean (ZS) is consolidating to start the week, hesitating for roughly 2 weeks now just below triangle resistance (on the weekly chart) and near the 50% Fib retrace of the slide from the June high to the July low. Odds are better for a retest of the 2022 high going into year end, than it is for a slide back to the July low during the same period, with the July low coinciding with the 50% Fib retrace of the May 2019 to June 2022 bull market (as can be seen on tradingview.com)…
Arabica Coffee (KC) slid more than 0.5% Friday in its consolidation just above descending wedge/downtrend support (on the weekly chart) and descending wedge resistance (on the daily chart). KC is likely to decisively extend in the next day or so, the break Friday above the 4hr chart downchannel resistance…
TOP50’sTOP10 (MATICUSD, ATOMUSD, ETHUSD, UNIUSD, EOSUSD, DOTUSD, ALGOUSD, AVAXUSD, BTCUSD, XTZUSD)
Raw Sugar (SB) edged higher yesterday, gaining for the 9th straight day and closing above the 61.8% Fib retrace of the April to September slide. SB is now comfortably above the October high, downchannel resistance (on the weekly chart) and the psychologically key 0.19 whole figure level…
Arabica Coffee (KC) rebounded more than 3.5% yesterday, clawing back above descending wedge/downtrend support (on the weekly chart) after briefly sliding beneath it. Odds are elevated for a break today above the 4hr chart downchannel resistance and descending wedge resistance (on the daily chart)…
The EURUSD is consolidating after the strong bounce from the 2022 low (in September). Although the EURUSD is vulnerable today to a bit more healthy profittaking, odds are elevated for a weekly close above downchannel resistance (on the weekly chart) and the psychologically key 1.00 whole figure level…
Arabica Coffee (KC) slid nearly 1% yesterday, with its daily Gravestone closing at a fresh 2022 low at descending wedge/downtrend support (on the weekly chart). Nevertheless, odds are rising for a bounce back above the 4hr chart downchannel resistance and descending wedge resistance (on the daily chart) in the next day or so, which would coincide with a rebound off the weekly chart descending wedge resistance…
Gold (GC) is consolidating after yesterday’s massive near 3% surge, breaking above descending wedge resistance (on the weekly chart). GC is in the advanced stages of forming a major bottom and is suddenly closing in on the October high.
Arabica Coffee (KC) slid more than 2% yesterday, closing at a fresh 2022 low at descending wedge/downtrend support (on the weekly chart). Nevertheless, odds are rising for a bounce back above the 4hr chart downchannel resistance and descending wedge resistance (on the daily chart) in the next day or so, which would coincide with a rebound off the weekly chart descending wedge resistance.
