The S&P500 (ES) is consolidating after yesterday’s 1% plus gains, testing triangle resistance (on the 4hr chart). Any surge to a fresh February high this week will dramatically increase the odds that the 2022 bear has ended…
Tag: GBPAUD
VIX (VX) Weekly Chart Bullish Island Reversal Near Complete
The VIX (VX) is consolidating yesterday’s break above downchannel resistance (on the 4hr and daily chart), and appears poised to complete a Bullish Island Reversal (on the weekly chart). With the bounce off downchannel support (on the weekly chart) gaining momentum, a weekly close above the psychologically key 20 whole figure level is all but assured…
USDCAD Weekly Chart Triangle Near Complete
The USDCAD continues consolidating but should be seeing a volatility surge soon as the triangle (on the weekly chart) nears completion. Before bulls get excited, they’ll want to see the USDCAD close on a weekly basis above the weekly chart triangle resistance and the psychologically key 1.35 whole figure level…
VIX (VX) Reclaims Key 20 Level Ahead of FOMC
The VIX (VX) is trying to halt the slide from October by rebounding off last week’s fresh 2023 low. Before bulls get excited, the VX will need a daily close above downchannel resistance (on the daily chart)…
Soybean (ZS) Nears Jan High Ahead of Feb 8 WASDE
Soybean (ZS) is edging higher to start the week, and appears poised to retest the January high this week. With ZS comfortably closing last week above the psychologically key 1500 whole figure level, odds are rising and elevated for a test of the June 2022 high sometime by or on the day of the next highly anticipated WASDE February 8…
USDCAD Trying to Form Higher Jan Low VS Nov Low
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Wheat (ZW) Nearing Weekly Chart Descending Wedge Support
Wheat (ZW) is starting the week continuing a consolidation near the 2022 low, remaining vulnerable to a deeper slide towards descending wedge support (on the weekly chart) in January. With ZW below the 61.8% Fib retrace of the September 2016 to March 2022 bull market (as can be seen on a monthly chart on tradingview.com), odds are moderate for a sliding back to the 2021 low just below the psychologically key 600 whole figure level sometime in Q1…
Nasdaq100 (NQ) Rejected @ Weekly Chart Descending Wedge Resistance
Nasdaq100 (NQ) slid more than 1% yesterday after getting rejected Wednesday at descending wedge resistance (on the weekly chart). NQ appears to be entering the advanced stages of the Dead Cat Bounce that began early in the new year, with odds increasing for NQ to slide back to this year’s low before month end…
GBPAUD Rebounds From Near Key 1.75 Level
The GBPAUD is adding to yesterday’s massive 200 pip plus gains off just above the psychologically key 1.75 whole figure level. The GBPAUD is now nearing the 61.8% Fib Fib retrace of the February to September slide, with odds moderate for a test of the December high before month end…
Nasdaq100 (NQ) Tries Halting Slide to 2022 Low
Nasdaq100 (NQ)’s Dead Cat Bounce (off the October low) is all but over as seen by the sharp reversal from last Tuesday’s fresh December high. Nevertheless, any holding of the November low before Xmas will put a retest of descending wedge resistance (on the weekly chart) by early January into play…