Raw Sugar (SB) gained more than 1% yesterday, briefly breaking above the psychologically key 0.20 whole figure level. Significantly, SB is extending its rally from triangle resistance (on the daily chart), arguably completing a massive Bull Flag consolidation since September…
Gold (GC) is consolidating in today’s Asia morning, testing triangle support (on the 4hr chart). Significantly, GC is back below the 38.2% Fib retrace of the August to March rally extension, and is at risk of breaking below triangle support (on the daily chart) after today’s highly anticipated FOMC Minutes at 2pm EST…
Wheat (ZW) is trying to firm to start the week, showing early signs of trying to halt the near month long slide from the 2022 high. Significantly, ZW is testing the 61.8% Fib retrace of the war surge, and appears to be trying to reclaim the psychologically key 1000 whole figure level…
Silver (SI) formed a daily Hammer yesterday, reversing much of yesterday’s initial sharp losses. Significantly, SI is trying to halt the strong profittaking from the March high, and is suddenly back to near the psychologically key 25 whole figure level…
Raw Sugar (SB) consolidated yesterday for a 4th straight day within a near complete triangle (on the daily chart). Significantly, SB is bouncing off the prior downchannel resistance (on the weekly chart), from just below the 50% Fib retrace of the early March rally…
The AUDUSD is edging higher going into today’s European morning, breaking upchannel resistance (on the 4hr chart). Significantly, last week’s brief surge above downchannel resistance (on the weekly chart) strengthens the uptrend since February…
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)…
Natural Gas (NG) has edged higher in today’s Asia morning on the potential for the Russia-Ukraine conflict to escalate. Significantly, odds are suddenly high for NG to retest the psychologically key 5 whole figure level and the 2022 high sometime in March…
The VIX (VX) is consolidating going into today’s European morning, with a wide trading range expected this busy news week. Significantly, the VX is likely to retest the February high in March, given the higher February high and low versus January’s…
Natural Gas (NG) is firming after yesterday’s healthy profittaking, trying to bounce off uptrend support (on the 4hr chart) and the psychologically key 4.5 whole figure level. Significantly, NG is forming a weekly Gravestone, and somewhat of a triangle (on the weekly chart) suggesting a moderately low likelihood of NG sliding back towards triangle support in the next week or so…
