Arabica Coffee (KC) edged more than 1% lower yesterday, continuing a consolidation near the 4hr chart downchannel resistance. With the current weekly candle remaining green for now and having on Tuesday tested last week’s high, odds remain decent for a retest of downchannel resistance (on the weekly chart) ahead of the weekend…
Gold (GC) slid more than 2% yesterday, completing what appears to be a Bearish Island Reversal (on the daily chart) after forming a fresh 2023 high Monday at upchannel resistance (on the daily and weekly chart). Within GC’s current consolidation back below triangle resistance (on the weekly chart), GC is beginning to firm near the 38.2% Fib retrace of the March rally…
Arabica Coffee (KC) rebounded more than 1% yesterday off triangle support (on the daily chart), closing back above the 4hr chart downchannel resistance. With the growing body of the current green weekly candle having reclaimed the psychologically key 175 whole figure level and edging above last week’s weekly candle body range, KC appears to have halted the downside in the consolidation since the February high…
The S&P500 (ES) is consolidating with its weekly Hammer just shy of the psychologically key 4k whole figure level. With last week’s weekly Doji bouncing off just above the 2023 low, the ES has been trying to halt the slide from the February peak…
Arabica Coffee (KC) rebounded more than 1% yesterday off triangle support (on the daily chart), closing back above the 4hr chart downchannel resistance. With the growing body of the current green weekly candle having reclaimed the psychologically key 175 whole figure level and edging above last week’s weekly candle body range, KC appears to have halted the downside in the consolidation since the February high…
Wheat (ZW) is consolidating near the psychologically key 700 whole figure level after bouncing off the 2023 low (formed a bit more than a week ago). Odds are moderate for a break of descending wedge resistance (on the weekly chart) before month end, which if successful, would neutralize the bear trend since the May high and dramatically increase the likelihood of ZW retesting the February high in the week after…
Arabica Coffee (KC) slid almost 2% Friday, getting rejected at triangle resistance (on the daily chart). Nevertheless, the weekly Doji close last week just above the psychologically key 175 whole figure level suggests KC has largely halted the downside in the consolidation since the February high…
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The VIX (VX) has seen strong profittaking from Wednesday’s fresh 2023 peak, but should be finding support soon as it drifts back towards this week’s low, just above where the VX had broke above the weekly chart descending wedge resistance. Any weekly close above the psychologically key 25 whole figure level would dramatically increase odds for a retest of this week’s high in the few days after…
Arabica Coffee (KC) rebounded a massive 4% plus yesterday, trying to reclaim upchannel support (on the daily chart). With yesterday’s surge back to around the psychologically key 180 whole figure level and just above the 38.2% Fib retrace of the January to February bounce, KC appears to have halted the downside in the consolidation since the February high…
