Robusta Coffee (RC) edged higher yesterday, consolidating Monday’s massive 3.5% plus rebound off Friday’s fresh July and 2022 low. With RC retesting the psychologically key 2k whole figure level and back above prior descending triangle support (on the weekly chart), odds are high for RC to form its first green weekly candle in 7 weeks…
The Nasdaq100 (NQ) is hesitating in its Dead Cat Bounce, but continues to have decent odds for a few more months of a short covering rally before exhausting near the downchannel resistance (on the weekly chart). Any daily close above downchannel resistance (on the daily chart) and the psychologically key 12k whole figure level will dramatically increase the likelihood for a retest of the June high before month end…
Robusta Coffee (RC) rebounded a massive 3.5% plus yesterday off Friday’s fresh July and 2022 low. With RC retesting the psychologically key 2k whole figure level and back above prior descending triangle support (on the weekly chart), odds are high for RC to form its first green weekly candle in 7 weeks…
Soybean (ZS) is trying to halt its slide from the June peak, but remains vulnerable this week to completing the 4hr chart triangle to the downside effectively continuing a Bear flag or downchannel (on the daily chart). Nevertheless, bears should not rule out short covering with ZS trying to bounce off the 61.8% Fib retrace of the November to June bull market extension…
Robusta Coffee (RC) edged lower Friday, closing near a fresh July and 2022 low. With 6 straight red weekly candles, odds are rising for a short covering bounce by early this week…
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Raw Sugar (SB) has spent most of this week consolidating last week’s strong bounce as seen by the near complete weekly Doji. Odds appear decent for an extension of last week’s gains sometime next week…
Robusta Coffee (RC) slid more than 2.5% yesterday, closing at a fresh July and 2022 low. With RC on pace for its 6th straight red weekly candle, odds are rising for a short covering bounce by early next week…
Robusta Coffee (RC) bounced more than 1% yesterday, forming a weekly Hammer after bouncing off the 2022 low freshly formed Friday. Yesterday’s break above descending wedge resistance (on the 4hr chart) dramatically increases the likelihood of the 1st green weekly candle in 6 weeks…
The USDCAD is in the advanced stages of consolidating near the psychologically key 1.30 whole figure level and 2022 high. Odds are elevated that the USDCAD will sometime in July, extend its Bull market to the November 2020 high, which happens to be the 50% Fib retrace of the March 2020 to May 2021 slide (as can be seen on tradingview.com)…
