Arabica Coffee (KC) slid almost 2.5% yesterday, failing to hold the psychologically key 1.70 whole figure level. Any green weekly candle next week would greatly reinforce this week’s weekly Gravestone and suggest that the prior 2 weeks below the descending wedge/downtrend support (on the weekly chart) to below the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58) were overshoots…
EURUSD 2 Week Plus Bull Flag Consolidation Near Complete
The EURUSD appears to be gearing up to complete the 2 week plus Bull Flag consolidation and retest the psychologically key 1.05 whole figure level before the weekend. With the EURUSD comfortably above downchannel resistance (on the weekly chart), the EURUSD has halted a slide since June 2021, which itself is a part of a major downtrend from 2008 (as can be seen remains intact on tradingview.com)…
Coffee Daily Dec 1, 2022
Arabica Coffee (KC) surged more than 3.5% yesterday, closing just shy of the psychologically key 1.70 whole figure level. With KC having broken above downchannel resistance (on the 4hr chart), the prior 2 weeks below the descending wedge/downtrend support (on the weekly chart) to below the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58) appear to have been an overshoot…
Gold (GC) 2 Week Plus Bull Flag Consolidation Nearly Complete
Gold (GC) is in the advanced stages of a 2 week plus Bull Flag consolidation, with the triangle (on the 4hr chart) about to complete. GC appears to be gearing up for a test ahead in the next week or so of the psychologically key 1800 whole figure level and the 38.2% Fib retrace of the March to October slide…
Coffee Daily Nov 30, 2022
Arabica Coffee (KC) surged more than 3.5% yesterday, closing just shy of the psychologically key 1.70 whole figure level. With KC having broken above downchannel resistance (on the 4hr chart), the prior 2 weeks below the descending wedge/downtrend support (on the weekly chart) to below the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58) appear to have been an overshoot…
S&P500 (ES) Dead Cat Bounce Since Oct Low Tiring
The S&P500 (ES) is consolidating yesterday’s 1.5% plus slide, showing fatigue in the Dead Cat Bounce off the October low as ES slides back below the psychologically key 4k whole figure level and 61.8% Fib retrace of the August to October slide. Any daily close below the 50% Fib and the uptrend support (on the daily chart) would suggest that the Dead Cat Bounce has peaked or is about to in the next few weeks…
Coffee Daily Nov 29, 2022
Arabica Coffee (KC) slid more than 1% yesterday, forming a second straight daily Doji just above prior downchannel resistance (on the daily chart). KC appears to have formed a major bottom just above the psychologically key 1.50 whole figure level, reclaiming the descending wedge/downtrend support (on the weekly chart)…
Soybean (ZS) Consolidates Below 50% Fib Retrace of Jun-Jul Slide
Soybean (ZS) is looking wobbly to start the week, appearing vulnerable to sliding in the next few days towards the 38.2% Fib retrace of the slide from the June high to the July low. Odds are elevated for a retest of the psychologically key 1400 whole figure level this week, and for a slide back to triangle support (on the weekly chart) before the Xmas lull sets in…
Coffee Daily Nov 28, 2022
Arabica Coffee (KC) edged almost 1.5% higher Friday after the US Thanksgiving holiday, closing just above prior downchannel resistance (on the daily chart). KC appears to have formed a major bottom just above the psychologically key 1.50 whole figure level, reclaiming the descending wedge/downtrend support (on the weekly chart)…
Litecoin (LTCUSD) Breaking Weekly Chart Downtrend Resistance
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