Corn (ZC) bounced almost 1.5% Friday off the January low, closing just shy of the psychologically key 600 whole figure level. Significantly, although the daily chart triangle is near complete and can resolve either direction, ZC does not appear to want to correct deeper than where it broke above triangle resistance (on the weekly chart)…
Tag: Soybean
Corn (ZC) Consolidates Just Above Key 600 Level
Corn (ZC) is consolidating to start the week, nearing the completion of a triangle (on the 4hr and daily chart). Significantly, ZC is bumping up against the 76.4% Fib retrace of the May to September slide, and appears moderately likely to test the 2021 high sometime in January…
Nasdaq100 (NQ) Retesting Record High Ahead of Busy News Week
The Nasdaq100 (NQ) is edging higher going into today’s European morning, just shy of its record high. Significantly, NQ appears well positioned to further extend its upchannel (on the weekly chart) and is now moderately likely to test upchannel resistance this week…
Soybean (ZS) Reclaims 61.8% Fib Retrace of Jun-Nov Correction
Soybean (ZS) has bounced to start the year, and is now just shy of the December high. Significantly, ZS has reclaimed the 61.8% Fib retrace of the June to November correction, with upward momentum returning following ZS’ break above triangle resistance (on the 4hr chart)…
Corn (ZC) Retests 76.4% Fib Retrace of May-Sep Correction
Corn (ZC) is consolidating to start the week, tiring after 3 straight up days and Wednesday’s break above ascending wedge/triangle resistance (on the daily chart). Significantly, ZC is bumping up against the 76.4% Fib retrace of the May to September slide, and is vulnerable to sliding back to inside the ascending wedge (on the daily chart) that it broke above mid last week…
Soybean (ZS) Weekly MACD Trying to Positively Cross
Soybean (ZS) is consolidating to start the week after 4 straight up days, digesting Friday’s break above triangle resistance (on the daily chart). Significantly, ZS appears to be gearing up for a renewed push higher from above the descending wedge resistance (on the weekly chart), with high odds for a grind higher before Xmas to the psychologically key 1300 whole figure level…
Corn (ZC) Daily MACD Trying to Positively Cross
Corn (ZC) is consolidating to start the week, continuing a digestion since early November of the break above triangle resistance (on the weekly chart). Significantly, ZC remains near the November high, with any weekly close above the 61.8% Fib retrace of the May to September slide to be followed by a test of the psychologically key 600 whole figure level and the August high in the week after…
Corn (ZC) Testing 61.8% Fib Retrace of May-Sep Slide Ahead of WASDE
Corn (ZC) is consolidating to start the week, digesting 3 straight green daily candles as it nears the November high. Significantly, ZC is retesting the 61.8% Fib retrace of the May to September slide with the bottom of the slide just below the 50% Fib retrace of the April 2020 to May 2021 bull market…
Corn (ZC) Retests 61.8% Fib retrace of May-Sep slide
Corn (ZC) is consolidating Friday’s sharp reversal higher (after an initial gap down), and appears poised to continue pushing higher this week. Significantly, ZC is retesting the 61.8% Fib retrace of the May to September slide, and is suddenly just a day’s volatility from the November high…
VIX (VX) Weekly MACD Trying to Positively Cross
The VIX (VX) is gaining momentum in its bounce off the November and 2021 low. Significantly, the VX is rebounding from downchannel support (on the weekly chart), with the current weekly candle breaking above a downtrend resistance line (on the weekly chart) that began in September…