Nasdaq100 (NQ) is consolidating after the strong short covering last week, taking a breather before it attempts an extension to descending wedge resistance (on the weekly chart) going into February. NQ does not appear likely to slide back to the 2022 low before month end, with any test of the psychologically key 10k whole figure level and weekly chart descending wedge support likely deferring until at least mid February…
Nasdaq100 (NQ) is consolidating after the strong short covering this week, taking a breather before it attempts an extension to descending wedge resistance (on the weekly chart) going into February. NQ does not appear likely to slide back to the 2022 low before month end, with any test of the psychologically key 10k whole figure level and weekly chart descending wedge support likely deferring until at least mid February…
Natural Gas (NG) has broken below the 2022 low, but should be seeing a bounce in the next day or so as it tests downchannel support (on the daily chart). Regardless of the moderately high likelihood of a short covering rally going into next week, NG remains at roughly the same risk of a deeper slide to the psychologically key 3 whole figure level by month end…
Nasdaq100 (NQ) is at elevated risk of a descending wedge extension (on the 4hr and weekly chart) in the next week. NQ appears less likely to bounce back by late January to descending wedge resistance (on the weekly chart) than it is to break in the same period below the 2022 low to wedge support…
Silver (SI) is consolidating yesterday’s massive 4.5% plus surge near a fresh December high. Although any gains going into Xmas are likely to be modest, SI appears poised to continue extending the upchannel (on the daily chart) and Bull Flag (on the weekly chart) next week…
Nasdaq100 (NQ) is exhausting on its Dead Cat Bounce (off the October low) as seen by Tuesday’s sharp reversal after posting a fresh December high. NQ is suddenly at a new December low, and just a week or so’s volatility from retesting the 2022 low…
The GBPAUD has been consolidating for a second week near or above the 61.8% Fib retrace of the February to September slide, and appears to be readying to break to a fresh December high. Odds are moderately high for a test of the psychologically key 1.85 whole figure level by year end…
Natural Gas (NG) is consolidating after yesterday’s massive 6% plus gains, hesitating after bumping up against the psychologically key 7 whole figure level. For now, NG’s lower December low versus the October and July lows (on the January contract) appears to have merely been a part of a broad descending wedge (on the weekly chart) that is arguably a Bull Flag consolidation…
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Silver (SI) is consolidating near downchannel resistance (on the 4hr chart), trying to halt the slide since the October high. Before bulls get excited, they’ll need to see a reclaiming of the psychologically key 20 whole figure level, which would dramatically increase odds of a test of the October high in the few days after…
