Silver (SI) is trying to firm and halt the slide after getting rejected last week at the psychologically key 20 whole figure level and descending wedge resistance (on the weekly chart). Although SI may bounce in the next day or so off descending wedge support (on the 4hr chart), it remains at elevated risk of testing the 2022 low by the weekend…
Natural Gas (NG) is slowing in its slide from its 2022 high in August near the psychologically key 10 whole figure level, with a bit of short covering likely ahead of Thursday’s widely anticipated weekly storage. Nevertheless, NG appears vulnerable to deepening in its consolidation post-storage below the August low…
Natural Gas (NG) reversed more than 5% lower yesterday after getting rejected at the psychologically key 10 whole figure level. NG is suddenly forming a weekly Gravestone after just having reached a fresh 2022 peak yesterday, and is vulnerable to more healthy profittaking ahead of and following Thursday’s widely anticipated weekly storage…
The VIX (VX) is trying to halt the slide from the June high, and no longer appears like it will retest the 2022 low (from last week) before month end. Increasingly likely is a weekly close within the same timeframe, above descending wedge resistance (on the weekly chart)…
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WTI Crude (CL) is hesitating at the daily chart downchannel resistance ahead of today’s highly anticipated weekly inventory data at 1030am EST. Although CL has bounced strongly off the 50% Fib retrace of the December to June bull market extension, CL remains vulnerable to another daily chart downchannel extension and a retest of the July and May lows before month end…
The Nasdaq100 (NQ) is hesitating in its Dead Cat Bounce, but continues to have decent odds for a few more months of a short covering rally before exhausting near the downchannel resistance (on the weekly chart). Any daily close above downchannel resistance (on the daily chart) and the psychologically key 12k whole figure level will dramatically increase the likelihood for a retest of the June high before month end…
WTI Crude (CL) slid a massive near 8% yesterday, closing near the July and May lows. With yesterday’s inability to recapture prior ascending wedge support (on the weekly chart) and the subsequent fall below the psychologically key 100 whole figure level, CL appears to want to test in July, the 50% Fib retrace of the December to June bull market extension…
WTI Crude (CL) is consolidating after yesterday’s massive 8% plus slide to below ascending wedge support (on the weekly chart). CL is suddenly testing the psychologically key 100 whole figure level, remaining vulnerable to more downside today after breaking yesterday below triangle support (on the daily chart)…
