Cocoa (CC) reversed yesterday from an intraday low that briefly broke below the psychologically key 2500 whole figure level, closing above downchannel resistance (on the daily chart). Significantly, odds are now good for CC to resume an upchannel (on the weekly chart) going into Q1…
The USDCAD is trying to firm following yesterday’s sharp intraday reversal lower, remaining within a day or so’s volatility from the 2021 high. Significantly, the USDCAD appears poised before year end, for an extension of the weekly chart upchannel to the psychologically key 1.30 whole figure level, which coincides with the 38.2% Fib retrace of the slide from the March 2020 high to the May 2021 low…
WTI Crude (CL) is wobbly going into today’s European morning after 2 straight days of rejection at downchannel resistance (on the daily chart). Significantly, CL is back below the psychologically key 70 whole figure level, and appears to be tiring in its bounce that began 2 weeks ago from below uptrend support (on the weekly chart)…
The VIX (VX) is trying to firm after completely unwinding the early December surge. Significantly, although the VX has fallen back to just above its 2021 low, odds are moderately high for another VX rally before the Xmas lull sets in…
Corn (ZC) is consolidating to start the week, continuing a digestion since early November of the break above triangle resistance (on the weekly chart). Significantly, ZC remains near the November high, with any weekly close above the 61.8% Fib retrace of the May to September slide to be followed by a test of the psychologically key 600 whole figure level and the August high in the week after…
A new format for Crypto Weekly Outlook is taking form, where in light of the rapidly emerging and evolving opportunities in other top 50 coins (other than Bitcoin, Ethereum and Ripple), Crypto Weekly Outlook will 3 Sundays out of each month, provide technical analysis on 10 coins from the top 50 (in market cap) which appear the most interesting for the coming week. Only coins that have above average fundamentals over the long run will be selected…
Cocoa (CC) slid almost 1% yesterday, but reversed much of the day’s early losses by its close. Significantly, any weekly close above upchannel support (on the weekly chart) will dramatically increase the odds of testing the psychologically key 2500 whole figure level and the 38.2% Fib Retrace of the October to December slide in the week after…
The AUDUSD is consolidating after a 3 day bounce to its December high. Significantly, the AUDUSD has broken above a month long downtrend resistance (on the daily chart) and is trying to bounce off just above downchannel support (on the weekly chart)…
Gold (GC) is entering the advanced stages of a bottoming effort after the slide from the November high. Significantly, GC is trying to reclaim an uptrend support line connecting the August low to the lows in September and November, after briefly breaking below it last week…
The VIX (VX) slid a massive 10% yesterday on healthy profiftaking, and is suddenly testing upchannel support (on the 4hr chart). Significantly, although odds are fairly high for the VX to slide back in the next day or so to the 61.8% Fib retrace of the late November to early December rally, the VX is unlikely to correct beyond the 61.8% Fib…
