Wheat (ZW) is starting the week consolidating for a 3rd straight day 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), ZW is moderately vulnerable to sliding back to the 2021 low just below the psychologically key 600 whole figure level sometime in Q1…
Coffee Daily Jan 10, 2023
Arabica Coffee (KC) edged lower with yesterday’s daily Gravestone, breaking below the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58). With KC just shy of the 2022 low, odds are elevated for a test of the psychologically key 1.50 whole figure level by early next week…
Wheat (ZW) Nearing 2022 Low Ahead of WASDE
Wheat (ZW) is starting the week consolidating for a 3rd straight day 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), ZW is moderately vulnerable to sliding back to the 2021 low just below the psychologically key 600 whole figure level sometime in Q1….
Coffee Daily Jan 9, 2023
Arabica Coffee (KC) slid another near 1.5% Friday, retesting the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58). With the weekly close near the 61.8% Fib, odds are elevated for a test this week of the 2022 low and the psychologically key 1.50 whole figure level…
Litecoin (LTCUSD) Retesting Dec High
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Nasdaq100 (NQ) Just Above 2022 Low Ahead of NFP
Nasdaq100 (NQ) is at elevated risk of a descending wedge extension (on the 4hr and weekly chart) in the next week. NQ appears less likely to bounce back by late January to descending wedge resistance (on the weekly chart) than it is to break in the same period below the 2022 low to wedge support…
Coffee Daily Jan 6, 2023
Arabica Coffee (KC) slid just shy of 0.5% yesterday, and suddenly appears poised for a retest by the weekend of the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58). Any weekly close below the 61.8% Fib would dramatically increase the likelihood of a test of the 2022 low and the psychologically key 1.50 whole figure level sometime next week….
AUDUSD Daily MACD Positively Crossing
The AUDUSD has consolidated roughly a month around downchannel resistance (on the weekly chart), with rising odds for a weekly close by mid January, above the 50% Fib retrace of the slide from the April peak to the October low. With a retest of the psychologically key 0.65 whole figure level increasingly unlikely in January, the AUDUSD has all but made a major bottom in October, halting a slide since early 2021 (as can be seen easier on a monthly chart on tradingview.com)…
Coffee Daily Jan 5, 2023
Arabica Coffee (KC) slid more than 3% yesterday, and suddenly appears poised for a retest this week of the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58). Any break below the 61.8% Fib would dramatically increase the likelihood of a test of the 2022 low and the psychologically key 1.50 whole figure level in the week after…
Gold (GC) Daily MACD Positively Crossing
Gold (GC) is rallying to start the year, but likely to see consolidation in the next day or so as it nears upchannel resistance (on the 4hr chart), ascending wedge resistance (on the daily chart), and the 50% Fib retrace of the March to October slide. Regardless of any profittaking this week, GC appears poised to extend the Bull Flag (on the weekly chart) by mid month, with odds now elevated for a test of the psychologically key 1900 whole figure level sometime in January.。。