Arabica Coffee (KC) tacked on another 1.5% plus Friday, closing above the psychologically key 1.50 whole figure level. Odds are elevated for the rebound from Wednesday’s fresh 2023 low to continue gaining steam this holiday-shortened week as KC tries bouncing off downtrend/descending wedge support (on the weekly chart)…
Soybean (ZS) gained for a 3rd straight day Friday following the WASDE Thursday. When ZS reopens in the shortened session (with today being Dr Martin Luther King Jr Day), ZS will likely make an attempt at testing the January high…
Arabica Coffee (KC) tacked on another 1.5% plus Friday, closing above the psychologically key 1.50 whole figure level. Odds are elevated for the rebound from Wednesday’s fresh 2023 low to continue gaining steam this week as KC tries bouncing off downtrend/descending wedge support (on the weekly chart)…
TOP50’sTOP10 (LTCUSD, ETHUSD, BTCUSD, AVAXUSD, ATOMUSD, MATICUSD, BNBUSD, EOSUSD, UNIUSD, DOTUSD)
Nasdaq100 (NQ) is consolidating after the strong short covering this week, taking a breather before it attempts an extension to descending wedge resistance (on the weekly chart) going into February. NQ does not appear likely to slide back to the 2022 low before month end, with any test of the psychologically key 10k whole figure level and weekly chart descending wedge support likely deferring until at least mid February…
Arabica Coffee (KC) rebounded a massive near 4% yesterday from Wednesday’s fresh 2023 low, closing around the psychologically key 1.50 whole figure level. Odds are elevated for a continued firming going into next week as KC tries bouncing off downtrend/descending wedge support (on the weekly chart)…
The GBPUSD is consolidating for a 3rd straight day near downchannel resistance (on the 4hr chart). The GBPUSD appears to be readying to complete (in the next week) the Bull Flag consolidation since the mid December high…
Arabica Coffee (KC) slid another massive 4.5% plus yesterday, breaking to a fresh 2023 low. KC should begin firming today as it tests downtrend/descending wedge support (on the weekly chart)…
Natural Gas (NG) has broken below the 2022 low, but should be seeing a bounce in the next day or so as it tests downchannel support (on the daily chart). Regardless of the moderately high likelihood of a short covering rally going into next week, NG remains at roughly the same risk of a deeper slide to the psychologically key 3 whole figure level by month end…
Arabica Coffee (KC) slid a massive 4.5% plus yesterday, breaking below the 2022 low and the psychologically key 1.50 whole figure level. With KC decisively below the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58), odds are elevated for a test of the weekly chart descending wedge support by month end…
