The Nasdaq100 (NQ) is trying to firm as seen by the daily Doji forming, with a moderate probability for a bounce in the next day or so off downchannel support (on the 4hr chart) to the psychologically key 14k whole figure level. Significantly, regardless of any near term Dead Cat Bounce, today’s break of descending triangle support (on the daily chart) and the January low, suggests a looming Bear Flag extension…
Soybean (ZS) edged higher Friday, closing just shy of its 2022 high (from the week before). Significantly, although ZS appears poised to gravitate to the 2021 high on its continuous chart (seen on tradingview.com), the May contract seems primed for some healthy profittaking as suggested by last week’s weekly Hammer following a weekly Gravestone…
TOP50’s TOP10 (BTCUSD, XRPUSD, ETHUSD, FTTUSD, AVAXUSD, CROUSD, XTZUSD, MANAUSD, SANDUSD, TRXUSD)
Cotton (CT) is firming in today’s Asia morning, trying to bounce for a second straight day off downchannel support (on the 4hr chart). Significantly, regardless of any short covering going into next week, CT has been rejected at upchannel resistance (on the weekly chart) and the psychologically key 1.25 whole figure level…
The AUDJPY is gaining for a 3rd straight day and week after today’s Asia morning release of Australian employment data. Significantly, the AUDJPY is quickly nearing last week’s high, with any weekly close above the 2022 high to dramatically increase the odds of testing the 2021 high in the month after…
Natural Gas (NG) is consolidating after rallying another more than 2.5% yesterday, and is increasingly well positioned to reversing the sharp selloff from the February high. Significantly, odds are high for NG to break above the 50% Fib retrace of the January-February rally, coinciding with the psychologically key 4.5 whole figure level, by the weekend…
The VIX (VX) is consolidating after yesterday’s intraday surge to near the psychologically key 30 whole figure level. Significantly, although the VX may see a bit more healthy profittaking today after the strong bounce from last week’s low, odds are high for a retest of the January high in February…
Wheat (ZW) opened the week decisively above the psychologically key 800 whole figure level. Significantly, ZW has halted a slide from the 2021 peak, and appears to be readying to resume the uptrend (on the weekly chart)…
TOP50’s TOP10 (BTCUSD, XTZUSD, XRPUSD, ETHUSD, FTTUSD, CROUSD, SANDUSD, MANAUSD, AVAXUSD, TRXUSD)
Arabica Coffee (KC) pulled back more than 1% yesterday on healthy profittaking, consolidating Wednesday’s surge to a fresh 2022 high (above the 2021 peak). Significantly, KC’s decisive resumption of the weekly chart upchannel/uptrend this week suggests high odds for a test of upchannel/uptrend resistance before month end…
