Fundamental Analysis

Gold Rebound Amid Bargain Hunt, With a Bleak Outlook

Gold rebounded on Thursday from a momentary drop below the $1,900 psychological level, which was triggered by a series of strong US economic readings. Following the release of the data, prices dipped below $1,900 for the first time since mid-March.  This drop was supported by a 0.4% strengthening in the dollar index, which made gold Read More…

Convenience Yield and Backwardation
Technical Analysis

Gap filled, bulls unleashed in the Dow Jones futures (YM)

Techncial recap Take a moment to review the analysis from June 12th here. The gap we analyzed has been filled perfectly, and an immediate bullish reversal followed. Now, bulls are pushing price up above the horizontal resistance line and attempting to break above the ascending triangle once more.  Technical analysis Moving Averages: The 50 MA is sitting Read More…

Crude oil (CL) futures
Fundamental Analysis

Oil Records 3% Gain on Surprise Inventories Drop

On Wednesday, oil prices increased by approximately 3%. This was due to a larger-than-expected second consecutive weekly decrease in US crude stockpiles.  WTI price chart (Source: Nymex) The US Energy Information Administration reported a significant drop of 9.6 million barrels in crude inventories for the week ending on June 23. This surpasses the 1.8-million barrel Read More…

Fundamental Analysis

Equities Rise as Upbeat Economic Data Eases Recession Worries

On Tuesday, US equities recovered from a losing streak due to positive economic data. This eased investor concerns about an impending recession caused by the Federal Reserve’s aggressive interest rate increases.  US housing, factory orders and confidence data (Source: Commerce Department, Conference Board) In May, new orders for important US-manufactured capital goods unexpectedly increased, and Read More…

Future Trading Strategies
Fundamental Analysis

Equities End Lower Amid Political Uncertainty in Russia

US equities closed lower on Monday due to investor caution regarding riskier assets and uncertainty surrounding Russia’s failed mutiny over the weekend. The rebellion led by Russian mercenaries raised doubts about the future of President Vladimir Putin.  While Putin expressed gratitude towards the fighters and commanders who avoided bloodshed by standing down, the US State Read More…

Crude oil (CL) futures
Technical Analysis

Crude Oil futures (CL) holding steady at $68 per barrel

Technical analysis Volume: The Wyckoff volume has dipped slightly, with te average at 334,780 contracts traded per day, down from 381,900 contracts per day back in April. Support Zone: There is a support zone at $68.01 which continues to attract buyers. There is high demand at this price level, and it will take a big effort Read More…

Fundamental Analysis

Currency Futures Decline as Dollar Climbs on Safe-Haven Appeal

Currency futures fell on Friday as the dollar rose on safe-haven appeal. The dollar gained strength against the euro due to disappointing global business activity data, negatively affecting risk sentiment. Additionally, hawkish statements from central banks added pressure on riskier currencies. In June, US business activity experienced a decline, reaching a three-month low. Survey data Read More…

Uncategorized

Gold Plummets as Powell Promises More Hikes to Come

Gold reached a three-month low on Thursday and was on track for its most significant weekly decline since February. Gold prices declined as Jerome Powell, the Chairman of the US Federal Reserve, maintained a hawkish stance and indicated that the central bank’s tightening cycle is not yet over.  Powell reiterated his belief that there would Read More…