
TOP50’sTOP10 (TRXUSD, MATICUSD, MANAUSD, SANDUSD, CROUSD, SOLUSD, FTTUSD, XTZUSD, LUNAUSD, DOTUSD)
Raw Sugar (SB) is trying to halt a 3 week plus slide from its 2022 high, but remains vulnerable to deepening in its consolidation and retesting the March low sometime in May. Nevertheless, SB does not appear to be forming a Double Top-like pattern (on the weekly chart) as the April high was comfortably above the November high (on the July contract)…
The AUDUSD surged roughly 100 pips yesterday on the back of the FOMC and US Fed rate hike, halting the correction from early April. Yesterday’s break above downchanel resistance (on the 4hr chart) dramatically increases odds for a break above descending wedge resistance (on the daily chart) by the weekend…
Natural Gas (NG) is hesitating near the 2022 high tested yesterday, digesting the strong bounce in the past week. Although the highly anticipated weekly storage data (on Thursday) could very well spark a daily close above the psychologically key 8 whole figure level, healthy profittaking is moderately likely post-storage…
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The USDCAD is trying to complete a 5th straight green weekly candle, and appears to want to test the 2022 high and psychologically key 1.30 whole figure level by early May. A monthly close above 1.30 would signal the completion of a major bottoming effort since June 2021 (seen more easily on a monthly chart at tradingview.com)…
Natural Gas (NG) has bounced off the 38.2% Fib retrace of the January to April rally, trying to halt last week’s slide from the 2022 high. Nevertheless, with the incredible volatility typically accompanying the highly anticipated weekly storage data (on Thursday), bulls should not rule out NG deepening in its correction to the 50% Fib by early May…