Technical analysis Let’s get straight to the point and look at what the Dow is doing. At the moment, price has found a substantial amount of support between $32,000 and $33,000. I have made the chart clear to show just the candlestick patterns because that is the primary driver we are going to be using Read More…
Gold prices increased on Thursday with a weaker US dollar following the FOMC’s announcement of a dovish interest rate hike, indicating its tightening campaign may end. Gold traders are elated again after the Federal Reserve confirmed Wednesday’s anticipated small 25 basis point interest rate hike. After retracing from year-to-date highs on Monday and Tuesday, the Read More…
Technical analysis Gold has soared lately as the Dollar continues to lose its value. Gold bulls are now targeting the 2022 high of $2,078.8. That high was set in the month of March last year, and the chart formed a significant double top that short sellers could take advantage of. I have shown two charts Read More…
On Wednesday, oil prices increased by around 2% to a one-week peak as the dollar fell to a six-week low. This followed the US Federal Reserve’s announcement of an expected modest rate hike and a suggestion that it was ready to pause further hikes. In response to recent market instability brought on by the collapse Read More…
Recap In last week’s analysis, we watched the CL price close below the range we have been monitoring since December 2022. The bears were strong enough to continue pushing the price lower. The added selling pressure from bulls who needed to liquidate their longs helped the price plunge from $71 to $64. Any traders who took Read More…
US equities closed substantially higher on Tuesday as market players focused on the Federal Reserve. This came as widespread concerns regarding liquidity in the banking sector subsided. The Fed is anticipated to end its two-day policy meeting on Wednesday with a 25 basis-point increase to its policy rate. Regional bank collapses this week, followed by Read More…
Zoomed out daily chart outlook It has been a while since we looked at the S&P 500. The inverse head and shoulder we have been monitoring is still playing itself out slowly as price continues to sit on the neckline. Finally, we see price is pushing above the neckline. The swing high at $4,208.75 would Read More…
Technical analysis The bulls are in control as the Dollar weakens. The Euro is strengthening, and it’s evident on the chart. Price has tested the zone within the gaussian channel and has bounced successfully out of it. This is a good sign for trend-following traders who wish to go long the Euro because the trend Read More…
US equities increased on Monday as investors were reassured by a deal to save Credit Suisse and moves by central banks to boost trust in the financial system. Investors also considered the possibility that the Federal Reserve could hold off on raising interest rates this week. Late on Sunday, UBS and rival Credit Suisse agreed Read More…
Currency futures rose, and the dollar dropped on Friday as markets became more nervous and worried about the possibility of a recession due to tighter monetary policy. In recent days, US banks have requested a record $153 billion in emergency funds from the Federal Reserve, even though Credit Suisse’s $54 billion loan and First Republic’s Read More…
