Arabica Coffee (KC) surged a massive 4% plus yesterday, closing at downchannel resistance (on the daily chart). Significantly, KC has reclaimed the weekly chart’s upchannel support and the psychologically key 2.25 whole figure level…
The AUDUSD surged roughly 100 pips yesterday on the back of the FOMC and US Fed rate hike, halting the correction from early April. Yesterday’s break above downchanel resistance (on the 4hr chart) dramatically increases odds for a break above descending wedge resistance (on the daily chart) by the weekend…
The AUDUSD appears to have halted the correction from early April, finding support at prior downchannel resistance (on the weekly chart). Yesterday’s break above downchanel resistance (on the 4hr chart) gives a bullish bias to the triangle-like pattern (on the daily chart)…
Gold (GC) is tiring near upchannel support (on the weekly chart), putting at risk the rally extension since February. Any break of the daily chart triangle support will likely coincide with a test of the psychologically key 1900 whole figure level and the 50% Fib Retrace of August to March rally extension…
The AUDUSD is consolidating in today’s Asia morning, tiring as it bumps against the psychologically key 0.75 whole figure level. Significantly, with the massive rally since the January low near the psychologically key 0.70 whole figure level, the AUDUSD has broken above downchannel resistance (on the weekly chart)…
The AUDUSD is edging higher going into today’s European morning, breaking upchannel resistance (on the 4hr chart). Significantly, last week’s brief surge above downchannel resistance (on the weekly chart) strengthens the uptrend since February…
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Natural Gas (NG) is firming after yesterday’s healthy profittaking, trying to bounce off uptrend support (on the 4hr chart) and the psychologically key 4.5 whole figure level. Significantly, NG is forming a weekly Gravestone, and somewhat of a triangle (on the weekly chart) suggesting a moderately low likelihood of NG sliding back towards triangle support in the next week or so…
Gold (GC) appears ready for consolidation in the next day or so after the strong bounce this past week off the psychologically key 1800 whole figure level. Significantly, GC has rebounded off triangle support (on the weekly chart), with a decent likelihood of completing this triangle by month end…
The AUDUSD is rallying in today’s Asia morning on the 730pm EST release of Australian employment data, adding to yesterday’s bounce off uptrend support (on the 4hr chart). Significantly, although the AUDUSD remains within a downtrend (on the weekly chart), a daily close above triangle resistance (on the daily chart) would dramatically increase odds for a test of the weekly chart downtrend resistance in the week after…
