Silver (SI) is consolidating just above descending wedge resistance (on the weekly chart), making progress in its efforts to form a major bottom. Another weekly close above the psychologically key 20 whole figure level will dramatically increase the likelihood of a test sometime in August of the 38.2% Fib retrace of the March to July slide…
Coffee Daily Aug 10, 2022
Arabica Coffee (KC) edged up a 2nd straight day yesterday, trying to hold triangle support (on the daily chart). Any slide back below the lower end of the range over the last 3 weeks would dramatically increase the likelihood of a break of the psychologically key 2 whole figure level and a test of the 38.2% Fib retrace of the June 2020 to February 2022 bull market (near 1.97) in the week after…
Nasdaq100 (NQ) Weekly Gravestone @ 38.2% Fib Retrace of Jan-Jun Slide
The Nasdaq100 (NQ) is forming a weekly Gravestone, tiring in its Dead Cat Bounce near the 38.2% Fib retrace of the January to June slide. Although NQ is at moderate risk of getting rejected this week at downtrend resistance (on the weekly chart), odds are roughly equal for a further short squeeze in August to the 50% Fib retrace of the January to June slide…
Coffee Daily Aug 9, 2022
Arabica Coffee (KC) edged up more than 1% yesterday, forming a green daily Doji at triangle support (on the daily chart). Any slide back below the lower end of the range over the last 2 weeks would dramatically increase the likelihood of a break of the psychologically key 2 whole figure level and a test of the 38.2% Fib retrace of the June 2020 to February 2022 bull market (near 1.97) in the week after…
Wheat (ZW) Weekly Chart Descending Wedge Near Complete
Wheat (ZW) is trying to halt the deep slide since the 2022 peak in May. With the near completion on a descending wedge (on the daily chart), and ZW testing the 2022 low, odds are elevated for a bullish resolution post-WASDE to the near complete weekly chart triangle…
Coffee Daily Aug 8, 2022
Arabica Coffee (KC) slid more than 4% Friday, once again nearing the lower end of the range over the last 2 weeks. Increasingly, KC appears to want to retest the psychologically key 2 whole figure level by mid August…
Avalanche (AVAXUSD) Reclaims Key 25 Level
TOP50’sTOP10 (AVAXUSD, BNBUSD, XTZUSD, ETHUSD, ATOMUSD, MANAUSD, FTTUSD, BTCUSD, CROUSD, MATICUSD)
Arabica Coffee (KC) Reclaims 38.2% Fib Retrace of Feb-July Slide
Arabica Coffee (KC) gained another more than 2% yesterday, with the weekly Hammer lower shadow suggesting a refusal to slide back to the psychologically key 2 whole figure level. A weekly close above last week’s high will dramatically reduce the likelihood that KC is in the advanced stages of a Head & Shoulders (on the weekly chart)…
Coffee Daily Aug 5, 2022
Arabica Coffee (KC) gained another more than 2% yesterday, with the weekly Hammer lower shadow suggesting a refusal to slide back to the psychologically key 2 whole figure level. A weekly close above last week’s high will dramatically reduce the likelihood that KC is in the advanced stages of a Head & Shoulders (on the weekly chart)…
GBPUSD Weekly MACD Trying to Positively Cross
The GBPUSD has spent this week catching its breath just above descending wedge resistance (on the weekly chart). Volatility is about to surge following today’s 7am EST BoE monetary policy report/summary and rate announcement, the 730am EST comments from BoE governor Bailey, and Friday’s highly anticipated US Non-Farm Payrolls (NFP)…