Arabica Coffee (KC) Nears Key 2.5 Level

Arabica Coffee (KC) surged another 2% plus Tuesday, closing at a fresh 2021 high. Significantly, regardless of an increasingly likely test of upchannel resistance (on the weekly chart) by early next year, odds are fairly high for healthy profittaking when KC reopens following the US Thanksgiving holiday break, as KC bumps up against ascending wedge resistance (on the 4hr chart) and uptrend resistance (on the daily chart)…

WTI Crude (CL) Weekly MACD Trying to Negatively Cross

WTI Crude (CL) is consolidating just above a 2 week 4hr chart downtrend resistance, trying to halt a month long slide from the 2021 high. Significantly, odds are about equal in the day or so following today’s highly anticipated weekly inventory data at 1030am EST and the US’ FOMC Meeting Minutes at 2pm EST, for a retest of the 38.2% Fib retrace of the rally extension from late August to late October, or for a retest of the psychologically key 80 whole figure level…

Soybean (ZS) Testing Weekly Chart Descending Wedge Resistance

Soybean (ZS) is consolidating for a 3rd straight day to start the week, hovering just above downtrend resistance (on the daily chart). Significantly, ZS has halted the deep correction from the May/June peak with its push last week above descending wedge resistance (on the weekly chart). Bullishly, ZS has formed a higher November high versus the October high, reclaiming the 50% Fib retrace of the May 2019 to May 2021 rally…

Ethereum (ETHUSD) Weekly MACD Trying to Negatively Cross

Ethereum (ETHUSD)’s is near complete on its first long bodied red weekly candle since September, and appears vulnerable to a deeper consolidation the balance of November despite a tentative bounce off the psychologically key 4k whole figure level. Significantly, ETHUSD was rejected this past week at what somewhat resembles upchannel resistance (on the weekly chart), although the long lower shadow of the near complete current weekly candle suggests we are more likely to see a further slide similar to what occurred in September as opposed to in May…

WTI Crude (CL) Retesting Key 80 Level Ahead of Inventory

WTI Crude (CL) is edging lower to start the week, looking vulnerable to decisively breaking the psychologically key 80 whole figure level in the day or so following today’s highly anticipated weekly inventory data. Significantly, CL’s weekly Gravestone last week was rejected at the recent fresh 2021 high, leaving CL unable to reclaim prior ascending wedge support (on the weekly chart)…