Minor support level broken Downtrend continuation with $11,592.75 as a target for Bears MACD slightly oversold in the short term Fibonacci Retracement levels On Monday, September 19, the trading session opened lower, and the Bears seem firmly in control now. Connecting the June 16 Low to the August 16 High with Fibonacci retracements gives the Read More…
Japan’s inflation increased by 2.7% in August. The BoJ is pressured to tighten monetary policy as inflation stays above its 2% target. The BoJ is looking set to intervene in the yen’s recent declines. The Japanese Yen (6J) futures price has pushed off its 24-year low. This rise can be attributed to the increase in Read More…
The daily trend is still bearish Price consolidating around the $1 level Range-bound trading opportunities on the 2-Hour Chart Introduction Because of the worse-than-expected CPI data and a strong Dollar, we can take advantage of many potentially good trades available in the markets currently. The fear of an economic crash in Europe is rising due Read More…
Gold prices have lost nearly 20% of their value in the last six months. Inflation in the US is still very high. Rate increases in the US are making non-yielding gold less attractive. The gold (GC) futures price has decreased by $400 per ounce, or 19.45%, in the last six months. There has to be Read More…
Signs of rolling over effect on the weekly chart Consumer Price Index (CPI) report is bearish for markets in general Bull case: Support band+point of control volume profile Weekly Chart Notice on the chart below how we see a rolling effect as prices retrace after a sharp move down. When we see these patterns form, Read More…
A stronger US dollar is capping oil gains. Investors expect a possible 100bps rate hike from the FED. Supply concerns continue amid fighting in oil-producing countries. Crude oil (CL) futures prices surged this week amid weak demand and supply disruptions as the United States prepared for a potential rail shutdown. However, oil prices were steady Read More…
Gold trading inside minor and major support zones Gold Sell off as Dollar rallies after CPI report Volatile market conditions expected The Daily Support Zone Last week we spoke about the major support zone in GC in this article. We still find a lot of buy support happening at this level even after a major Read More…
US inflation data came in higher than expected, surprising investors. Markets are pricing in a possible 100bps rate hike. Investors no longer believe the Fed will pause rate hikes any time soon. Major equity futures indices including the E-mini Nasdaq-100 (NQ) futures tumbled last Tuesday as markets braced for an even more aggressive US Federal Read More…
The Ichimoku cloud indicator, also called the Ichimoku Kinko Hyo, is arguably one of the most versatile technical indicators. At first glance, it may appear convoluted and probably hard to understand, especially due to the several components. However, its greatest advantage is that it combines backward and forward-moving averages to determine an asset’s trend, momentum, Read More…
Prices rally to trade within the consolidation zone Price potentially targeting the 50 Moving Average on daily time frame. Daily Trend The daily chart shows a steady downward trend since June with prices bouncing predictably within a channel as shown in our analysis below. The market could be targetting the 50 moving average where we Read More…
