Soybean (ZS) has bounced to start the year, and is now just shy of the December high. Significantly, ZS has reclaimed the 61.8% Fib retrace of the June to November correction, with upward momentum returning following ZS’ break above triangle resistance (on the 4hr chart)…
Corn (ZC) is consolidating to start the week, tiring after 3 straight up days and Wednesday’s break above ascending wedge/triangle resistance (on the daily chart). Significantly, ZC is bumping up against the 76.4% Fib retrace of the May to September slide, and is vulnerable to sliding back to inside the ascending wedge (on the daily chart) that it broke above mid last week…
Soybean (ZS) is consolidating to start the week after 4 straight up days, digesting Friday’s break above triangle resistance (on the daily chart). Significantly, ZS appears to be gearing up for a renewed push higher from above the descending wedge resistance (on the weekly chart), with high odds for a grind higher before Xmas to the psychologically key 1300 whole figure level…
Corn (ZC) is consolidating to start the week, continuing a digestion since early November of the break above triangle resistance (on the weekly chart). Significantly, ZC remains near the November high, with any weekly close above the 61.8% Fib retrace of the May to September slide to be followed by a test of the psychologically key 600 whole figure level and the August high in the week after…
Cocoa (CC) slid almost 1% yesterday, but reversed much of the day’s early losses by its close. Significantly, any weekly close above upchannel support (on the weekly chart) will dramatically increase the odds of testing the psychologically key 2500 whole figure level and the 38.2% Fib Retrace of the October to December slide in the week after…
Corn (ZC) is consolidating to start the week, digesting 3 straight green daily candles as it nears the November high. Significantly, ZC is retesting the 61.8% Fib retrace of the May to September slide with the bottom of the slide just below the 50% Fib retrace of the April 2020 to May 2021 bull market…
Corn (ZC) is consolidating Friday’s sharp reversal higher (after an initial gap down), and appears poised to continue pushing higher this week. Significantly, ZC is retesting the 61.8% Fib retrace of the May to September slide, and is suddenly just a day’s volatility from the November high…
Corn (ZC) is consolidating to start the week, but appears poised to test the November high in the next few days. Significantly, ZC has reclaimed the 50% Fib retrace of the May to September slide, and is well positioned to extend what could be described as a Bull Flag after breaking triangle resistance (on the weekly chart) 2 weeks ago…
Arabica Coffee (KC) soared nearly 3.5% higher yesterday, closing at the November high. Significantly, KC appears to finally be breaking out of the hesitation of the past month given the length of the current green weekly candle body in contrast to the length of the upper shadows of the prior 4 weekly candles, each rejecting below the 2021 high…
Corn (ZC) is trying to form the 1st green daily candle in 5 days as shorts begin covering ahead of the highly anticipated WASDE on Tuesday. Significantly, regardless of the downward pressure that can be expected in the day or so after the WASDE, ZC is likely to strengthen by late week…
