TOP50’sTOP10 (SANDUSD, MANAUSD, DOTUSD, MATICUSD, SOLUSD, XTZUSD, FTTUSD, ATOMUSD, CROUSD, AVAXUSD)
Sandbox (SAND) Breaking 6 Month+ Descending Wedge Resistance
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Cotton (CT) Suffers Biggest Weekly Loss Since 2011
Cotton (CT) is trying to form its 5th straight red daily candle as part of the biggest weekly drop since at least June 2011. Although odds are decent that the break below the psychologically key 1 whole figure level is an overshoot and false break, CT appears to still be weighed by a gravitational pull towards the 61.8% Fib retrace of the April 2020 to May 2022 bull market (as can be seen on tradingview.com)…
GBPAUD Weekly MACD Positively Crossing
The GBPAUD is in the advanced stages of a major bottom that began in April with the effort underway to form a higher June low versus the May low. Odds are high for the GBPAUD to break above the April / May high before month end, regardless of the near complete ascending wedge (on the 4hr chart)…
WTI Crude (CL) Nearing Weekly Chart Ascending Wedge Support
WTI Crude (CL) is looking vulnerable to sliding further going into July after last week’s tumble from a fresh 2022 high and the psychologically key 120 whole figure level. CL is suddenly hovering precariously just above upchannel support (on the daily chart) and ascending wedge support (on the weekly chart)…
Nasdaq100 (NQ) Daily MACD Trying to Positively Cross
The Nasdaq100 (NQ) appears to be in the early stages of forming a multi-month low, with the current green weekly candle trying to rebound off downchannel support (on the weekly chart). Any break above last week’s high will dramatically increase odds for a daily close above the psychologically key 12k whole figure level by the weekend…
Soybean (ZS) Weekly MACD Negatively Crossing
Soybean (ZS) is showing exhaustion after selling off last week following a fresh 2022 high the week prior. Any break below descending triangle support (on the 4hr chart) will likely coincide with a slide below ascending triangle support (on the weekly chart)…
Tezos (XTZUSD) Weekly Chart Descending Wedge Near Complete
TOP50’sTOP10 (XTZUSD, DOTUSD, MANAUSD, SANDUSD, MATICUSD, SOLUSD, CROUSD, TRXUSD, AVAXUSD, ATOMUSD)
Arabica Coffee (KC) Back Above Weekly Chart Upchannel Support
Arabica Coffee (KC) gained another more than 1.5% yesterday, extending the rebound off upchannel support (on the 4hr, daily and weekly chart). With a near complete green weekly Hammer above upchannel support (on the weekly chart), odds are elevated for KC to form a fresh June high before month end…
Natural Gas (NG) Breaks Weekly Chart Ascending Wedge Support
Natural Gas (NG) slid a massive 16% plus yesterday, breaking below upchannel support (on the daily chart) and ascending wedge support (on the weekly chart). Odds are high for a test of the psychologically key 7 whole figure level following Thursday’s highly anticipated weekly storage data, but any further downside ahead of the weekend will likely be limited to downchannel support (on the 4hr chart)…
Nasdaq100 (NQ) Testing Weekly Chart Downchannel Support
Although the Nasdaq100 (NQ) formed a fresh 2022 low yesterday, with the NQ at downchannel support (on the weekly chart), the NQ is only moderately likely to slide further this week to downchannel support (on the daily chart). Any break above downchannel resistance (on the 4hr chart) will dramatically increase odds for a daily close above the psychologically key 12k whole figure level by early next week….