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Arabica Coffee (KC) surged more than 1.5% yesterday, gaining for a 9th straight day. A weekly close above the weekly chart descending wedge resistance is likely, and would dramatically increase odds of a test of the December high and the psychologically key 1.75 whole figure level in the week after…
WTI Crude (CL) is vulnerable to sliding to below the psychologically key 80 whole figure level today following the highly anticipated weekly inventory data at 1030am EST. The rejection this week so far at downchannel resistance (on the weekly chart) just below the 38.2% Fib retrace of the slide from the 2022 high in June to the December low suggests higher odds of retesting of the January low before month end than for a break above the December high during the same period…
Arabica Coffee (KC) is likely to hesitate in the next day or so as hinted by yesterday’s daily Doji and 8th straight green daily candle. Any weekly close above the weekly chart descending wedge resistance will dramatically odds of a test of the December high in the week after…
Nasdaq100 (NQ) is consolidating after yesterday’s massive 2% plus surge, but is likely to grind higher to the psychologically key 12k whole figure level and upchannel resistance (on the 4hr chart) in the next day or so. Odds are suddenly moderately high and increasing that yesterday’s break above the weekly chart descending wedge resistance ends the 2022 bear…
Arabica Coffee (KC) gained another near 2.5% yesterday, extending the bounce that began a bit more than a week ago off a fresh 2023 low. With KC’s daily close yesterday above the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58), there are now elevated odds of a test of the January high by month end…
Wheat (ZW) is starting the week continuing a consolidation near the 2022 low, remaining vulnerable to a deeper slide towards descending wedge support (on the weekly chart) in January. With ZW below the 61.8% Fib retrace of the September 2016 to March 2022 bull market (as can be seen on a monthly chart on tradingview.com), odds are moderate for a sliding back to the 2021 low just below the psychologically key 600 whole figure level sometime in Q1…
Arabica Coffee (KC) edged higher Friday, consolidating the bounce that began a bit more than a week ago off a fresh 2023 low. A daily close this week above the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58) is likely, and would dramatically increase the odds of a test of the January high by month end…
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Nasdaq100 (NQ) slid more than 1% yesterday after getting rejected Wednesday at descending wedge resistance (on the weekly chart). NQ appears to be entering the advanced stages of the Dead Cat Bounce that began early in the new year, with odds increasing for NQ to slide back to this year’s low before month end…
