Fed Chair Jerome Powell avoided discussing rate policy in his speech. Powell emphasized that the Fed’s independence was crucial to fight inflation. US inflation for December is expected to be 6.5%, down from 7.1% in November. Equities climbed on Wednesday while the dollar held steady as investors awaited US inflation figures for clues on the Read More…
Year: 2023
Gold Futures (GC) Soar Spectacularly Into 2023
Analyzing the rising wedge, RSI, Fibonacci retracements, and candlesticks on the daily. Looking at why it’s likely we see Gold retrace from here ($1,880). How bulls can initiate longs if they are patient. Quick Recap Gold was trading at around $1,845 on January 5th from the last GC analysis. I stated the likelihood of a minor Read More…
NASDAQ Futures (NQ) Bears Out Of Hibernation
There is an inverted hammer that has formed on the daily chart. Setting targets for the head & shoulders pattern on the hourly. Analyzing why bears appear to be in control at the moment. Daily Chart Analysis In yesterday’s session, we saw NQ attempt to break out of a small support zone that has formed Read More…
Equities Pull Back on Hawkish Remarks from Fed Policymakers
Investors remain cautious ahead of important inflation data. Tokyo’s core consumer prices increased faster than anticipated (by 4.0%) in December. Investors are anticipating remarks from Fed Chair Jerome Powell. Equities futures prices declined on Tuesday following hawkish remarks by two US Federal Reserve officials. Investors were also wary ahead of important inflation data. “Equity market Read More…
Currency Futures Soar Amid Expectations of a Pause in Interest Hikes
Data from the United States revealed an increase in the labor force and a slowing of wage growth. The probability of a half-point rise in the fed funds rate has gone down to around 25%. China’s reopening also helped improve risk sentiment. Currency futures rose on Monday due to growing expectations that the Federal Reserve Read More…
E-mini S&P 500 (ES) Rally Out Of Consolidation Zone
ES has broken out of a minor consolidation zone. Analyzing a few ways we can profit from current market conditions. Targets for bulls to aim for if the bullish momentum continues. Breaking Out January 6th session saw a big jump in the S&P 500 as ES closed the first week of the year up 1.8%. Read More…
Opportunities Abound as Dollar Flies & Euro Futures (6E) Slump
Analyzing the multi-year level back from 2016. Fibonacci retracements, RSI, and a rolling top show further downside for 6E. A look at Bullish and Bearish Scenarios. Zooming Out The multi-year support & resistance level for 6E is $1.0543. This level has been tested multiple times since 2016. The market price is sitting on this level Read More…
Gold Heading for a Third Week of Gains, Eying US NFP Report
Higher-than-expected employment gains may put pressure on Gold. James Bullard suggested that 2023 might eventually usher in some inflation relief. The number of Americans submitting new claims for unemployment benefits decreased to a three-month low last week. Gold prices pulled back slightly on Friday but were on course for a third consecutive weekly rise. Investors Read More…
Oil Prices Rebound Amid Dollar Weakness
Oil prices fell yesterday on concerns over a probable global recession. US manufacturing continued to decline in December, affecting oil prices. In anticipation of weak local demand, the Chinese government boosted export quotas for refined oil products. After two days of severe losses in oil prices, investors came out to buy dips on Thursday amid Read More…
Golden Opportunities: Gold (GC) Futures Soar 2.6%
Gold is now only 12% away from 2022 highs. Critical technical indicators that help us understand recent price action. Analyzing an Orderblock and Moving Average Band for Improved Entries. Gold Up 2.6% So Far in 2023 It’s been a positive start for Gold, with the yellow metal up 2.6% in the first week of trading Read More…