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The USDCAD is continuing its week plus slide from its July high, remaining vulnerable to a deeper consolidation ahead of the weekend. Significantly, the USDCAD is retesting the psychologically key 1.25 whole figure level, along with the weekly chart downchannel resistance…
Gold (GC) is firming going into today’s European morning, continuing yesterday’s early attempt to halt a slide since mid July. Significantly, GC has been consolidating for almost a month around the psychologically key 1800 whole figure level, and is nearing the completion of a triangle (on the weekly chart), with the gap between triangle support and resistance down to roughly 100 points…
The S&P500 (ES) is tiring after forming a fresh record high yesterday, testing upchannel support (on the 4hr chart). Significantly, although ES has failed to buckle in the last year amidst increasing warnings of a deep correction or crash, the ES increases in its vulnerability the more overbought it becomes…
Wheat (ZW) is forming the 3rd straight red daily candle to start the week, continuing last week’s consolidation after briefly breaking above the psychologically key 700 whole figure level. Significantly, ZW’s rejection last week occured near the 61.8% Fib retrace of the May to July slide, and leaves ZW just shy of the 38.2% Fib…
Ethereum (ETHUSD) has rebounded strongly in the past 4 days, making good progress in halting the massive slide since the May record high. Significantly, ETHUSD has reclaimed the psychologically key 2k whole figure level, and is quickly approaching the 50% Fib retrace of the March 2020 to May 2021 rally…
Arabica Coffee (KC) soared a massive 10% plus yesterday, closing at a fresh 2021 high and at the highest level since November 2014. Significantly, KC is rapidly approaching the psychologically key 2.00 whole figure level, where once hit, will likely trigger a healthy consolidation…
The USDCAD is trying to stabilize after 2 days of healthy profittaking, hovering just above triangle support (on the 4hr chart) and uptrend support (on the daily chart). Significantly, the USDCAD’s consolidation as seen by this week’s weekly Gravestone should be coming to completion soon with the USDCAD having drifted back to near the weekly chart downchannel resistance and the psychologically key 1.25 whole figure level…
WTI Crude (CL) is rebounding nearly 4% in today’s US morning, and is quickly nearing the psychologically key 70 whole figure level. Significantly, although CL appears to have a bit more upside before it bumps up against downchannel resistance (on the 4hr chart), CL is arguably already bumping up against the daily chart downchannel resistance, with bears eyeing the Monday break below ascending wedge support (on the weekly chart)…
The S&P500 (ES) slid more than 1.5% yesterday, falling in the past week from a fresh 2021 and record high, and remaining vulnerable in the next day or so to a Bear Flag extension. Significantly, ES has been rejected by upchannel resistance (on the weekly chart), with odds high for a retest of the June low before month end…
