US equities closed slightly lower on Tuesday as investors remained worried that the Federal Reserve would hold higher interest rates for an extended period. Simultaneously, bank shares experienced a decline. The financial sector dropped by 0.9%, causing the biggest drag on the S&P 500. Moreover, the S&P downgraded credit ratings for various regional US lenders, Read More…
Weekly chart The main feature we can look at on the weekly chart is the volume profile indicator. The Euro has struggled to break above the point of control line and has begun to retrace from it as it acts as resistance. Currently, 6E is trading within a high-volume node. You can see this by Read More…
Equities ended Monday higher amid gains in Nvidia. The Nasdaq closed more than 1% higher on Monday. The S&P 500 also saw gains. Nvidia’s shares surged as investors expressed optimism before its upcoming earnings report. Other technology-related stocks also experienced increases. The yield on 10-year Treasury notes reached levels last observed during the 2007 Great Read More…
Recap A few weeks ago, we looked at a short trade in CL. It is time for an update regarding that trade and further technical analysis that may help us find alternative opportunities. To see the previous article on CL, where we look at the short trade on the daily chart, you can do so Read More…
Currency futures ended mixed on Friday while the dollar closed a fifth week of gains, marking its longest winning streak in 15 months. The gains were driven by a growing demand for safer assets due to concerns about China’s economy and expectations of sustained high US interest rates. China’s economic difficulties intensified as the property Read More…
Gold was headed for its fourth consecutive weekly decline as longer-term US Treasury yields surged to a 10-month peak on Thursday. This surge in yields, concerns about the enduring impact of elevated interest rates, and a struggling Chinese economy accelerated the decline of gold prices. The benchmark 10-year yields climbed to 4.312%, testing October’s 4.338%, Read More…
Technical Analysis Bullish trend channel: The bullish trend channel on the daily chart has now been officially broken. There are a lot of stop losses getting triggered at this point for the traders who went long. Traders who have banked a solid profit from the near 50% rally in NQ for the past 10 months Read More…
On Wednesday, oil prices dropped despite a significant decrease in US crude stocks. Investors were torn between concerns about China’s struggling economy and the anticipation of tighter supply in the United States. In the previous session, oil benchmarks fell more than 1%, reaching their lowest point since August 8th. WTI and Brent futures (Source: Nymex, ICE) Read More…
Recap In this week’s Gold technicals, we will focus on shorter time frames for possible long entries that could yield excellent short-term profits. In our previous analysis, we were waiting for Gold to retrace to the support level of $1924.4. Price is currently there, and now is the time to look for opportunities. If you Read More…
US equities ended the day lower on Tuesday, experiencing a significant decrease in value. This drop came after retail sales data exceeded expectations, causing concerns about the possibility of higher interest rates lingering. At the same time, major US banks faced declines due to a report indicating potential downgrades by Fitch for certain lenders. US Read More…
