micchua

micchua

This contract displayed a 3 wave structure and current fourth panning out an irregular pattern should see upside for wave 5 should price not go below $48 (over lapping wave1). If the $48 is breached, the current move would be seen as a B wave with potential support seen at 45.30 or lower 32.50. Wave c up would eventually follow. What will it be ?? 🤔

micchua

This coking coal chart is appearing to be concluding its final leg down making it attractive as the wave features are conforming. Extension of the final wave c is possible especially the presence of a gap that may be needed to close.

micchua

If 139.13 ended the cycle wave C the likely retracement support may fall into 57.59-60.87 where wave a to c relationship plays out together with the 38.2% retracement; or lower to 46.46-47.15 where we have the 50% mark and the wave a to c in equality. Interestingly, the 2 red horizontal lines demonstrate the idea of it being a support /resistance tracing all the...

micchua

There is a likely 5 wave sequence(hourly) to the upside which should call for more attention and also knowing your risk level. The presence of a positive divergence against MACD gives weight to the possibility of the pending upturn.

micchua

on a log scale, the head and shoulder formation objective have likely been fulfilled. This should augment the idea of a high probable bottoming with the other confluences in price objectives.

micchua

December beanoil is a high probable low area worth having a closer look as numerous projections and retracement confluencing at around the 37-38 cts. The time taken in the bull market from March '20 to April '22 is almost the same time it took to retreat. At the recent low,it took 840 calendar days compared to 772 days of rise. Supporting the high probability is...

micchua

Adding to the possibility of the BAT formation , we have the Head and Shoulder pattern too that pressured prices. The objective from the pattern suggests support within that of the BAT coincidentally.

micchua

A possible setup for the BAT formation in Soybeans is worth taking a look where XD retracement to 0.886@894, AB*1.618=CD@919 and extension of BC 2.618@960. That cluster is approaching.

micchua

The setup for the AB=CD appears to be showing up too. The confluence of the different methodology expressed may entice one to look closer.

micchua

Note the wave relationship panning out to a high probable Primary Wave 4 (0.618 retracement) and fitting within the parallel channel while resisting at the upper channel reinforcing with a potential double top is something worth looking out.

micchua

An interesting setup in place? Correction working out nicely with ratios and at wave 4 of a lesser degree zone. Correction took almost half the time span of bull phase likely completing Wave A.

micchua

Worked on the futures chart prior and this is the Cash market equivalent.

micchua Updated 

Following up on the last, wave b may likely be formed with a 50% retracement to 0.7014 and where wave c approximately relates 0.618 to wave a . We can expect a 5-wave down on principle. Await the outcome .

micchua

Following up from the last: we've seen a possible 5 wave structure up where wave 5 relates to wave 1-3 a 0.618 ratio ending the first leg up. Wave 'a' appears to be a 5-wave structure down insinuating a zig zag correction. Wave 'b' seems to be in the making. Lets see how far this takes us for the final outcome.

micchua

This bull lasted 6.8 years and the appearance of a 5 wave down suggests a zig zag happening with wave 'a' about to complete. Given the time spent on the bull phase it is likely we will see the corrective phase ending in 2.5 to 3.5 years .

micchua

Following up on the previous count, it appears that a running correction wave 4 may have presented itself. The subsequent impulsive move suggests an affirmation. On a smaller timeframe, a possible impulsive 5 wave sequence can be seen in the making thus making a bullish impression.

micchua

USDCNH has displayed a 5 wave up and a high probable head & shoulder bearish formation with the neckline (NL) broken. Correction is in progress with waves A-B-C couple with Head & Shoulder formation and technical objectives seem to point commonly to a zone worth noting. Interestingly, correction is 0.236% of the move down from wave b to recent low suggests...

micchua

The initial turn from 0.6170 was hazy but a possible motive wave can be in place. The last 2 weeks movement displayed a rising wedge implying a momentary pause in the uptrend and expect retreat . Watch for the unfolding of market intention going forward.