Arabica Coffee (KC) slid another 0.5% yesterday to a fresh 2022 low. Nevertheless, odds are elevated for KC to close this week around the weekly chart descending wedge/downtrend support which coincides roughly with the 50% Fib of the June 2020 to February 2022 bull market (near 1.775)…
EURUSD Testing Weekly Chart Downchannel Resistance
The EURUSD is consolidating after the strong bounce from the 2022 low (in September), and is at risk of seeing more healthy profittaking today as it bumps up against downchannel resistance (on the weekly chart). Regardless of any deeper pullback today, the EURUSD is progressing at forming a major bottom, with a high likelihood of a weekly close above the psychologically key 1.00 whole figure level…
Coffee Daily Oct 27, 2022
Arabica Coffee (KC) slid another 3% plus yesterday to a fresh 2022 low. Nevertheless, odds are elevated for KC to find support by the weekend around the weekly chart descending wedge/downtrend support which coincides roughly with the 50% Fib of the June 2020 to February 2022 bull market (near 1.77)…
Natural Gas (NG) Bounces Off 50% Fib Retrace of Jun20–Aug22 Bull Market
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Coffee Daily Oct 26, 2022
Arabica Coffee (KC) slid another 2% plus yesterday to a fresh 2022 low. Nevertheless, odds are elevated for KC to soon find support at the weekly chart descending wedge/downtrend support which coincides roughly with the 50% Fib of the June 2020 to February 2022 bull market…
S&P500 (ES) Testing 38.2% Fib Retrace of Aug-Oct Slide
The S&P500 (ES) is consolidating after the bounce in the past week, pausing as it bumps against the October high. Odds are suddenly high for a Dead Cat Bounce to continue for much of November, and for a test of the psychologically key 4k whole figure level by early November…
Coffee Daily Oct 25, 2022
Arabica Coffee (KC) formed another daily Doji yesterday near a fresh 2022 low, continuing to show early signs of trying to halt the slide from the August high. KC would need to bounce above last week’s high and the psychologically key 2 whole figure level to halt an extending of its fall before month end to the weekly chart descending wedge/downtrend support (near the 50% Fib of the June 2020 to February 2022 bull market)…
Wheat (ZW) Gives Up Half of Aug-Sep Bounce
Wheat (ZW) is looking wobbly to start the week, remaining vulnerable to a deeper consolidation this week towards descending wedge support (on the 4hr chart). Odds are moderately high for a lower October low versus the September low. ZW does not appear likely for now though to form a fresh 2022 low before year end. The escalation in the Ukraine-Russia conflict deserves close monitoring…
Coffee Daily Oct 24, 2022
Arabica Coffee (KC) formed another daily Doji Friday near a fresh 2022 low, continuing to show early signs of trying to halt the slide from the August high. KC would need to bounce above last week’s high and the psychologically key 2 whole figure level to halt an extending of its fall before month end to the weekly chart descending wedge/downtrend support (near the 50% Fib of the June 2020 to February 2022 bull market)…
Bitcoin (BTCUSD) Continues Trying to Bottom Near Dec17 High
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