GBPAUD Consolidation Around Weekly Chart Downchannel Resistance Near Complete

The GBPAUD appears to be in the advanced stages of consolidating near downchannel resistance (on the weekly chart). Any break above triangle resistance (on the 4hr chart) today will dramatically increase odds in the few days after of reclaiming the 61.8% Fib retrace of the February to September slide followed by the psychologically key 1.80 whole figure level…

Soybean (ZS) Retests Weekly Chart Triangle Resistance Ahead of WASDE

Soybean (ZS) is forming a daily and weekly Doji to start the week, hesitating after last week’s strong surge to triangle resistance (on the weekly chart). With ZS having reversed more than half of the sharp slide from the June high to the July low, odds are better for a retest of the 2022 high going into year end, than it is for a slide back to the July low during the same period, with the July low coinciding with the 50% Fib retrace of the May 2019 to June 2022 bull market (as can be seen on tradingview.com)…

Raw Sugar (SB) Testing 38.2% Fib Retrace of Apr-Sep Consolidation

Raw Sugar (SB) formed a second straight daily Hammer yesterday, and appears poised to test downchannel resistance (on the weekly chart) by next week sometime. Yesterday’s close just shy of the 38.2% Fib retrace of the April to September slide dramatically increases the odds of SB breaking above the October high and the psychologically key 0.19 whole figure level by mid November…

Cocoa (CC) Consolidating Near Weekly Chart Downtrend Resistance

Cocoa (CC) bounced almost 1% yesterday, closing just below descending wedge resistance (on the weekly chart). A weekly close above the 38.2% Fib retrace of the February to September slide is moderately likely by month end, and would dramatically increase the likelihood of a retest in the week after, of the 50% Fib retrace of the February to September slide, coinciding with the psychologically key 2500 whole figure level…