The VIX (VX) is trying to form a major bottom by bouncing off near the 2022 low. A daily close above downchannel resistance (on the daily chart) would likely coincide with a weekly close above descending wedge resistance (on the weekly chart), and is more likely than a VX selloff today back to this week’s low…
Arabica Coffee (KC) slid another near 1% yesterday, but has decent odds of attempting a bounce ahead by early next week as part of efforts to form a higher December low versus the November low. Any weekly close below descending wedge/downtrend support (on the weekly chart) and the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58) will dramatically increase the likelihood of a test next week of the psychologically key 1.50 whole figure level…
The USDCAD has bounced strongly off the November low, and is suddenly testing the 61.8% Fib retrace of the October to November slide. For now, the USDCAD appears to want to complete the Bull Flag consolidation since the October high, and retest the 2022 high and the psychologically key 1.40 whole figure level by January sometime…
Arabica Coffee (KC) slid more than 2% yesterday, but has decent odds of attempting a bounce ahead of the weekend as part of efforts to form a higher December low versus the November low. Any slide further below descending wedge/downtrend support (on the weekly chart) back below the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58) will dramatically increase the likelihood of a test of the psychologically key 1.50 whole figure level in the few days after…
Silver (SI) is consolidating a 3rd straight day, vulnerable to a bit more healthy profittaking ahead of the weekend. Nevertheless, SI’s brief break on Monday above the 61.8% Fib retrace of the March to September slide suggests a completion to the major bottom within the consolidation since August 2020 (as can be seen more easily on a monthly chart on tradingview.com)…
Arabica Coffee (KC) consolidated a 4th straight day yesterday, but should be about to bounce and attempt a higher December low versus the November low. Odds are decent for KC to rebound this week off descending wedge/downtrend support (on the weekly chart)…
Nasdaq100 (NQ) is showing fatigue in its Dead Cat Bounce off the October low, sliding back to just above the 38.2% Fib retrace of the August to October slide. Odds are fairly low for NQ to extend higher within its Oct-Nov Dead Cat Bounce before the Xmas lull to the 61.8% Fib or the weekly chart downtrend/descending wedge resistance…
Arabica Coffee (KC) consolidated a 3rd straight day yesterday, but should be about to bounce and attempt a higher December low versus the November low. Odds are decent for KC to rebound this week off descending wedge/downtrend support (on the weekly chart)…
Corn (ZC) is trying to firm to start the week, but remains vulnerable to sliding in the next day or so to the 38.2% Fib retrace of the May to July slide. Odds are now moderately high for ZC to retest ahead of the Xmas lull, the psychologically key 600 whole figure level…
Arabica Coffee (KC) slid almost 2% Friday, completing a weekly Gravestone just above the descending wedge/downtrend support (on the weekly chart). KC suddenly appears vulnerable to retesting by mid week, the 61.8% Fib retrace of the June 2020 to February 2022 bull market (near 1.58)…
