Arabica Coffee (KC) slid more than 2% yesterday, closing just below the December high. A higher December low versus the November low is all but certain…
Coffee Daily Dec 30, 2022
AUDUSD Consolidating Near Weekly Chart Downchannel Resistance
The AUDUSD is edging higher as its month plus consolidation around downchannel resistance (on the weekly chart) approaches completion. Regardless of any retest of the consolidation range low next week, 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 Dec 29, 2022
Arabica Coffee (KC) rebounded almost 4% yesterday, nearing the December high. A higher December low versus the November low is all but certain. Odds are decent that a major bottom has been made within the consolidation since February, with this low formed on the overshoot below the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58)…
Gold (GC) Nearing 50% Fib Retrace of Mar22-Oct22 Slide
Gold (GC) continues in its month long consolidation after pushing to a fresh December high yesterday. Regardless of the low liquidity in this holiday shortened week, odds are decent going into mid next week for GC to extend its ascending wedge (on the daily chart) and to resume its Bull Flag (on the weekly chart)…
Coffee Daily Dec 28, 2022
Arabica Coffee (KC) gave back almost 3% yesterday, hesitating near the December high. A higher December low versus the November low remains more likely than for KC to form a fresh December and 2022 low before year end…
Nasdaq100 (NQ) Consolidating Within Weekly Chart Descending Wedge
Nasdaq100 (NQ)’s Dead Cat Bounce (off the October low) is all but over, but is trying to hold the 2022 low going into year end. Nevertheless, NQ appears less likely to bounce back by early January to descending wedge resistance (on the weekly chart) than it is to break in the same period to a fresh 2022 low…
Coffee Daily Dec 27, 2022
Arabica Coffee (KC) edged up almost 2% Friday, closing near the December high. With KC testing weekly chart descending wedge resistance, a higher December low versus the November low is increasingly and rather likely, which if successful and reinforced by a higher December high versus the November high, would dramatically increase odds that a major bottom has been made within the consolidation since February…
Nasdaq100 (NQ) Weekly MACD Tries Negatively Crossing
Nasdaq100 (NQ)’s Dead Cat Bounce (off the October low) is all but over as seen by the sharp reversal from the December high to near the 2022 low. NQ appears less likely to bounce back before year end to descending wedge resistance (on the weekly chart) than it is to break in the same period to a fresh 2022 low…
Coffee Daily Dec 23, 2022
Arabica Coffee (KC) formed a 2nd straight daily Hammer yesterday, consolidating just below descending wedge/triangle resistance (on the daily chart). With KC testing another weekly chart descending wedge resistance line, a higher December low versus the November low is increasingly and rather likely, which if successful and reinforced by a higher December high versus the November high, would dramatically increase odds that a major bottom has been made within the consolidation since February…
AUDUSD Consolidating Near 38.2% Fib Retrace of Apr-Oct Slide
The AUDUSD is edging higher as its near month long consolidation around downchannel resistance (on the weekly chart) approaches completion. 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)…