Recap The last time we looked at RTY, price was finding support around the $1,738 level. I mentioned that the bears would find it difficult to break below that level due to the strong bullish wicks that formed. From here, we have even more conviction that the correct direction is up from here because of Read More…
Month: April 2023
Oil Hits One Month-High on Hopes of Ending Tightening Cycle
Oil prices rose by 2% on Wednesday, reaching their highest level in over a month. Cooling US inflation data raised optimism that the Federal Reserve would soon end its cycle of interest-rate hikes. This optimism Overshadowed a slight increase in US crude oil inventories. After increasing by 0.4% in February, the US Consumer Price Index Read More…
Introducing Jesus Cubillos: A Talented Futures Trader at OneUp Trader
Meet Jesus Cubillos. A futures trader at OneUp Trader who has made a name for himself in the industry. Based in Cumming, Georgia in the United States, Jesus has an account size of $150,000 and has withdrawn $5,500. The widrawals were sent to him within 2 business day after being requested which in unheard of Read More…
Euro FX futures (6E) surge through resistance level
Technical analysis The Euro has surged through a resistance level formed on February 2nd. The level is 1.106 and should now act as a support moving forward. The Dollar continues to fall and is causing other currencies as well as equities to rally. Take a look at the chart below for recent price action. Trade Read More…
Equities Close Flat as Investors Remain Sidelined Ahead of US Inflation
Wall Street equities closed flat on Tuesday as investors awaited inflation data and the unofficial start of the first-quarter reporting season. In the afternoon, stocks temporarily rose as Chicago Fed President Austan Goolsbee warned the Federal Reserve against raising rates too quickly to rein in inflation. Without market-moving variables, investors looked forward to the consumer Read More…
A fresh look at the powerful bullish momentum in Nasdaq Futures
Technical analysis Nasdaq futures have been showing a strong bullish momentum, as the price action continues to make higher highs and higher lows. Currently trading at $13,000, the next significant resistance level is at $13,700, which was a major resistance level in 2022. The Relative Strength Index (RSI) is also supporting the bullish momentum, as Read More…
Equities Flat Ahead of US Inflation and Bank Earnings
US equities recovered from large losses to end Monday flat as investors absorbed Friday’s jobs data and prepared for a busy week of inflation data and bank reports. The Labor Department released its March employment report on Friday, a market holiday, and it showed strong payroll growth and a welcome but minor slowdown in wage Read More…
Gold futures (GC) continue to surge toward all-time highs
Gold rallies Gold continues to surge, with all-time highs only $50 away. GC is up 11% this year as the Dollar continues to weaken and investors look for safe havens. Technical analysis points toward continued bullish momentum with little hope for bears at the moment. This is what the chart says: There is a fair Read More…
Crude Oil Futures (CL) struggle to break through resistance
Technical analysis Crude oil futures have been trading at $80 and have been struggling to break out of a resistance zone. This resistance zone has been a major hurdle for the bulls as they attempt to push the price higher. If the price does begin falling below $78, then the bears will likely target the Read More…
Gold Stagnant on Good Friday, Eying US NFP
Gold price (XAU/USD) is currently at $2007 early on Good Friday. The lack of liquidity due to the holiday and cautious sentiment ahead of the release of March US job data is causing XAU/USD to remain defensive. It is important to note that recession fears have affected gold prices, but the disappointing US dollar has Read More…