Wheat (ZW)’s 6 week plus Bull Flag consolidation (or daily chart triangle) is at risk of deepening as ZW tests a 2 month or so uptrend support (on the weekly chart). Any break below the daily chart triangle support will dramatically increase the odds of ZW testing the 50% Fib retrace of the war surge, and the psychologically key 1000 whole figure level…
Tag: Wheat
AUDUSD Retesting Weekly Chart Downchannel Resistance
The AUDUSD appears to have halted the correction from early April, finding support at prior downchannel resistance (on the weekly chart). Yesterday’s break above downchanel resistance (on the 4hr chart) gives a bullish bias to the triangle-like pattern (on the daily chart)…
Nasdaq100 (NQ) Weekly Hammer Forming Near Key 14k Level
The Nasdaq100 (NQ) is trying to reclaim the psychologically key 14k whole figure level, with decent odds of pausing the slide of the last 2 weeks these next few days. Nevertheless, NQ remains vulnerable going into May for a retest of the March low…
Wheat (ZW) Daily Chart Triangle Near Complete
Wheat (ZW) is pushing higher to start the week, appearing poised to complete a 5 week plus Bull Flag consolidation (or daily chart triangle). Interestingly, the correction from the March high was halted near the 50% Fib retrace of the war surge, just below the psychologically key 1000 whole figure level…
GBPUSD Bounces Off Key 1.30 Level
The GBPUSD bounced roughly 100 pips higher yesterday, breaking descending wedge resistance (on the daily chart). The bigger picture is of the GBPUSD making early efforts at halting its downtrend (on the weekly chart), where another green weekly candle next week would reinforce the early stage Double Bottom effort…
VIX (VX) Near 38.2% Fib Retrace of March Slide
The VIX (VX) is edging higher in today’s Asia morning, gravitating towards the April high. Significantly, the VX has bounced strongly from last week’s fresh 2022 low, and appears poised to retest prior upchannel support (on the weekly chart)…
Wheat (ZW) Reclaims 50% Fib Retrace of War Surge
Wheat (ZW) rallied in today’s Asia morning to start the week, halting the month plus slide from the 2022 high. Significantly, ZW has reclaimed the 50% Fib retrace of the war surge after strongly bouncing off from the psychologically key 1000 whole figure level…
Wheat Tries Stabilizing Near Key 1000 Level
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…
Wheat (ZW) Nearing 50% Fib Retrace of War Surge
Wheat (ZW) is sliding towards the low end of the roughly 3 week consolidation to start the week. Significantly, ZW appears vulnerable before month end to a test of the 50% Fib retrace of the February to March rally extension, with a moderate probability of testing the psychologically key 1000 whole figure level during the same period…
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…