The S&P500 (ES) is consolidating just shy of the April and February high, forming a weekly Hammer just below downtrend resistance (on the weekly chart). ES now appears more likely to test the August high in April than the psychologically key 4k whole figure level…
Arabica Coffee (KC) surged more than 3% yesterday, breaking above the February high to a fresh 2023 high. Although some healthy profittaking is increasingly likely for early next week as KC bumps against an uptrend resistance (on the 4hr chart), KC has decisively broken above triangle resistance (on the weekly chart), and may have a bit more upwards momentum to close the week above the psychologically key 2 whole figure level…
The GBPJPY is forming a daily Doji after yesterday’s daily Hammer/Doji, catching its breath after a rally extension from last week’s low. Odds are decent for a test of the December high in April after decisively breaking this week above triangle resistance (on the weekly chart)…
Arabica Coffee (KC) formed a daily Doji yesterday, digesting Tuesday’s break above triangle resistance (on the weekly chart). KC is suddenly nearing its February and 2023 high…
Gold (GC) is consolidating near ascending triangle resistance (on the 4hr and daily chart), and appears to be gearing up to retest upchannel resistance (on the weekly chart) ahead of the weekend. With GC having recovered from a brief dip Monday below the psychologically key 2000 whole figure level, odds are elevated for GC to before month end, form a fresh 2023 high and complete a Bull Flag consolidation since August 2020 (as can be seen more easily on a monthly chart on tradingview.com)…
Arabica Coffee (KC) soared more than 4% yesterday, breaking above triangle resistance (on the weekly chart). KC is suddenly nearing its February and 2023 high…
The VIX (VX) is trying to firm after sliding yesterday to a fresh 2023 low below the psychologically key 20 whole figure level. Nevertheless, with the VX arguably nearing descending wedge completion (on the 4hr and daily chart), the VX appears more likely to retest the March high in April than to slide all the way to downchannel support (on the weekly chart) in the same period…
Arabica Coffee (KC) edged lower yesterday with its daily Gravestone, beginning a weekly Doji just above what is arguably downchannel resistance (on the weekly chart). With yesterday’s close above the daily chart downtrend resistance, KC appears likely to test the 2023 high in April….
Soybean (ZS) is trying to firm to start the week following Thursday’s 1% plus slide going into the Easter holiday long weekend. ZS is now back below the psychologically key 1500 whole figure level, but appears more likely to retest the 2023 high within a day following the highly anticipated WASDE Tuesday than it is to retest the 2023 low…
Soybean (ZS) is trying to firm to start the week following Thursday’s 1% plus slide going into the Easter holiday long weekend. ZS is now back below the psychologically key 1500 whole figure level, but appears more likely to retest the 2023 high within a day following the highly anticipated WASDE Tuesday than it is to retest the 2023 low…
