The USDJPY is forming a daily Doji at what appears to be triangle resistance (on the daily chart), hesitating as it bumps against upchannel resistance (on the 4hr chart). Nevertheless, with the USDJPY arguably having broken this week above triangle resistance (on the weekly chart), odds are decent for a weekly close above the psychologically key 135 whole figure level…
Arabica Coffee (KC) slid more than 1% yesterday in its daily Doji after retesting the fresh 2023 high (formed Tuesday). Although further healthy profittaking is likely today after getting rejected yesterday at uptrend resistance (on the 4hr chart), KC isn’t likely to fall below this week’s low ahead of the weekend…
Natural Gas (NG) is consolidating after decisively reclaiming the psychologically key 2 whole figure level after briefly falling beneath it last week. With NG having successfully bounced yesterday off just above downchannel resistance (on the 4hr chart), NG is gaining momentum on its rebound off last week’s 2023 low and downchannel support (on the weekly chart)…
Arabica Coffee (KC) surged more than 2% yesterday, closing at a fresh 2023 high just above the psychologically key 2 whole figure level. Although some healthy profittaking is likely today as KC bumps up against uptrend resistance (on the 4hr chart), KC will likely see renewed bullish momentum later in the week with high odds for a test of upchannel resistance (on the daily chart) this week….
The S&P500 (ES) is consolidating near a fresh April high, hesitating as it tests the 50% Fib retrace of the slide from the January 2022 high to October 2022 low (as can be seen more easily on a weekly chart on tradingview.com), and nears the 2023 high formed February. Further creating caution is ES bumping up against a downtrend resistance (on the weekly chart)…
Arabica Coffee (KC) surged nearly 4% yesterday, closing at a fresh 2023 high just above the psychologically key 2 whole figure level. Although some healthy profittaking is likely today as KC bumps up against uptrend resistance (on the 4hr chart), KC will likely see renewed bullish momentum later in the week with high odds for a test of upchannel resistance (on the daily chart) this week….
Corn (ZC) is testing symmetrical triangle resistance (on the weekly chart), with decent odds for reclaiming the 2023 high in April. Any break above ascending triangle resistance (on the 4hr chart) this week will dramatically reduce the likelihood of ZC sliding back before month end to triangle support (on the weekly chart)…
Arabica Coffee (KC) pulled back nearly 1.5% Friday on healthy profittaking, closing near the February high just shy of Thursday’s fresh 2023 high. Although some further consolidation is likely for early week after KC’s rejection Friday at an uptrend resistance (on the 4hr chart), KC has decisively broken above triangle resistance (on the weekly chart), with high odds for a daily close this week above the psychologically key 2 whole figure level.。。
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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…
