Wheat (ZW) is consolidating Friday’s near 4% surge to start the week, hesitating just below the December high. A higher February high versus the December high will go a long way in halting the bear trend since the May high, and is likely given the room before bumping up against the psychologically key 800 whole figure level and upchannel resistance (on the 4hr chart)…
Coffee Daily Feb 13, 2023
Arabica Coffee (KC) edged higher Friday, completing a weekly Doji just below the psychologically key 1.75 whole figure level. Although KC may resolve today to the downside in the 4hr chart triangle, odds appear higher for an upside breakout…
Polygon (MATICUSD) Consolidates After Breaking Above Nov High
TOP50’sTOP10 (MATICUSD, ALGOUSD, ATOMUSD, BNBUSD, LTCUSD, EOSUSD, XTZUSD, UNIUSD, DOTUSD, AVAXUSD)
VIX (VX) Weekly Chart Bullish Island Reversal Near Complete
The VIX (VX) is consolidating yesterday’s break above downchannel resistance (on the 4hr and daily chart), and appears poised to complete a Bullish Island Reversal (on the weekly chart). With the bounce off downchannel support (on the weekly chart) gaining momentum, a weekly close above the psychologically key 20 whole figure level is all but assured…
Coffee Daily Feb 10, 2023
Arabica Coffee (KC) slid another 1% plus yesterday, edging further below a month long upchannel support (on the daily chart). Nevertheless, KC appears close to halting the healthy profittaking (from last week’s February high), with any further consolidation going into early next week likely to find support at the psychologically key 1.70 whole figure level…
USDCAD Weekly Chart Triangle Near Complete
The USDCAD continues consolidating but should be seeing a volatility surge soon as the triangle (on the weekly chart) nears completion. Before bulls get excited, they’ll want to see the USDCAD close on a weekly basis above the weekly chart triangle resistance and the psychologically key 1.35 whole figure level…
Coffee Daily Feb 9, 2023
Arabica Coffee (KC) formed a second straight daily Doji yesterday, edging slightly below a month long upchannel support (on the daily chart). Nevertheless, KC appears close to halting the healthy profittaking (from last week’s February high), with any further consolidation in the next day or so likely to find support at the psychologically key 1.70 whole figure level…
Natural Gas (NG) Reclaims Key 2.5 Level Ahead of Storage
Natural Gas (NG) is trying to halt the deep slide since September, with odds elevated and rising for a strong bounce off downchannel support (on the weekly chart) and Friday’s fresh 2023 low following Thursday’s highly anticipated weekly storage data. With NG arguably breaking above a descending wedge resistance (on the daily chart), a break above downchannel resistance (on the 4hr chart) post-storage is likely…
Coffee Daily Feb 8, 2023
Arabica Coffee (KC) edged higher yesterday with its daily Doji closing just above a month long upchannel support (on the daily chart). KC appears close to halting the healthy profittaking (from last week’s February high), with any further consolidation in the next day or so likely to find support at the psychologically key 1.70 whole figure level…
S&P500 (ES) Consolidates Just Above Weekly Chart Downchannel Resistance
The S&P500 (ES) is trying to firm, but remains vulnerable this week to a deepening in the consolidation that began Friday. Although the February high formed Thursday has been slightly higher than the January and December highs, a slide back (this week) below the psychologically key 4k whole figure level and the uptrend support (on the weekly chart) connecting the October and December lows would keep alive the possibility (albeit moderately unlikely for now) that the break above the weekly chart downchannel resistance was a Bear Trap…