The VIX (VX) is trying to firm after the dramatic slide this past week plus. Significantly, the VX is back to the psychologically key 25 whole figure level, and appears to be gearing up for a bounce as it breaks the descending wedge resistance (on the 4hr chart)…
Tag: Raw Sugar
Raw Sugar (SB) Weekly MACD Trying to Positively Cross
Raw Sugar (SB) edged higher with its daily Gravestone yesterday, showing renewed efforts at halting the slide from last week’s high. Significantly, odds are high for SB to find support at the prior downchannel resistance (on the weekly chart), which also happens to be between the 50% and 61.8% Fib retrace of the early March rally…
Wheat (ZW) Testing 38.2% Fib Retrace of War Surge
Wheat (ZW) is consolidating to start the week, trying to halt the strong slide since Tuesday’s 2022 and record high. Significantly, although ZW is suddenly testing the 38.2% Fib retrace of the February to March rally extension, ZW appears vulnerable this week to further profittaking towards the psychologically key 1000 whole figure level…
Cocoa (CC) Reclaims 38.2% Fib Retrace of Dec-Feb Rally
rally off the March low is ready for a breather. Significantly, CC has reclaimed the 38.2% Fib retrace of the December to February rally, and is ready for some healthy consolidation for next week…
Gold (GC) Surges Above Key 2K Level To Near Record High
Gold (GC) appears ready to consolidate in the next day or so as it struggles to form a 5th straight green daily candle. Significantly, although odds are good for GC to break its record high (from 2020) before month end, GC will want to take a breather as it bumps up against upchannel resistance (on the 4hr chart)…
Raw Sugar (SB) Reclaims 50% Fib Retrace of Nov-Feb Slide
Raw Sugar (SB) surged more than 1.5% yesterday, gaining for a 3rd straight day. Significantly, SB is suddenly at a 2022 high, and has reclaimed the 50% Fib retrace of the November to February slide…
Cocoa (CC) Testing 50% Fib Retrace of Dec-Feb Rally
Cocoa (CC) slid almost 2% yesterday, closing just above the 50% Fib retrace of the December to February rally. Significantly, with the weekly Doji forming, CC is trying to halt the correction since the 2022 peak (above the 2021 and 2020 high) 2 weeks back…
Raw Sugar (SB) Slides Back Below Weekly Chart Uptrend Support
Raw Sugar (SB) edged lower yesterday, continuing a roughly week long slide erasing last week’s gains. Significantly, with SB’s failure these past 2 weeks to hold onto prior uptrend support (on the weekly chart), SB appears poised to retest the January low by sometime in February…
Cotton (CT) Testing 2021 high
Cotton (CT) is firming going into today’s European morning, with CT trying to extend the upchannel (on the 4hr chart). Significantly, the break in ascending wedge support (on the daily chart) appears only mildly bearish going into next week, as the bigger picture is of CT retesting the 2021 high (in November)…
Cocoa (CC) Retests 50% Fib Retrace of Oct-Nov Slide
Cocoa (CC) gained more than 1.5% yesterday, closing near the December high and decisively above the psychologically key 2500 whole figure level. Significantly, CC has arguably broken triangle resistance (on the daily chart), and has re-entered the upchannel (on the weekly chart)…