Gold’s recent price action gives little opportunities for bulls. Traders could be waiting for a short squeeze to initiate short positions. Trader mindset announcement. The slide Gold futures have dropped 7.6% in 14 days. In that period of time, 80% of the candlesticks have been red. The sell-off has been steep, and bulls would signal Read More…
Gold prices fell to their lowest level in two months. US unemployment benefit claims surprisingly decreased last week. Markets are preparing for the release of the PCE price index for January. Gold price fell on Thursday after the US released upbeat economic data. The prices fell to their lowest level in around two months after Read More…
Investors are concerned that rate hikes will pressure economic growth and fuel demand. A stronger dollar raises the cost of oil priced in dollars for holders of other currencies. The amount of US oil stockpiles increased by 9.9 million barrels last week. On Wednesday, oil prices dropped by $2 a barrel to their lowest level Read More…
Crude price remains within the triangle formation we have been monitoring. Bullish divergence has been spotted on the MACD for the weekly time frame. Trader mindset announcement. Recap Last week’s analysis is a good example of why we should wait for the close of the daily candle in most situations before making our plays. While Read More…
The Dow Jones Industrial declined, wiping out its gains for 2023. Business activity in the United States crossed back to expansion in February. Business activity in the economies of France and Germany is once again expanding. Major US equities plummeted on Tuesday as investors believed that a gain in the US economic activity in February Read More…
The head and shoulder pattern is still in play but dangling on by a thread. Technicals are mixed as the FOMC announcement comes later today. Trader mindset announcement Head & Shoulders It has been a while since we looked at ES because we have been waiting for the head and shoulders on the daily chart Read More…
US markets were closed for the Presidents’ Day holiday, reducing volatility. The STOXX 600 in Europe increased by 0.1%. Investors are awaiting the core personal consumption expenditures index, the Fed’s favored inflation gauge. Global equities prices increased slightly on Monday during the London trading session as a US holiday dampened volatility ahead of the most Read More…
Double bottom target has been hit. False-break candle strategy entry spotted on daily chart. Special announcement about new 1 on 1 sessions with Jay called trader mindset. Short target hit from double top On January 31st, we analyzed the double top formation on 6B and noted a possible short trade. The target for that trade has Read More…
The US central bank will need to hike interest rates further to control inflation. Policymakers emphasized that there is still potential for ECB interest rates to rise. Investors are expecting the testimony of the newly appointed governor of the Bank of Japan. Currency futures ended Friday higher after hitting new lows on dollar strength. The Read More…
The double bottom chart pattern is still in play from last week’s analysis. What happens if NQ does break below $12,200? Double bottom within double bottom can be seen on the smaller time frames. Technical recap Last week Monday, I stated how we can likely see a rally out of the support zone at $12,352. Read More…
