Introduction Bitcoins’ huge bull run in 2024 may be coming to an end as the ‘digital gold’ daily chart may be looking at a very scary triple-top formation coupled with bearish divergence. 2024 Performance BTC is up 54% YTD and 160%, looking back on one year. This has followed the traditional cycle of a bull Read More…
Currency futures fell on Friday as the dollar rallied after the US jobs report revealed a still-tight labor market. Most major currencies fell against the greenback as investors scaled back expectations for the Fed’s rate cut. US job growth (Source: Bureau of Labor Statistics) Dollar bulls returned to the market on Friday, cheering a bigger-than-expected Read More…
Introduction There is bearish divergence playing out on the daily chart for Gold futures. The daily candle we see forming today (7 June) is a big red one as buyers become exhausted. Is gold’s run coming to an end? The chart provided is of Gold Futures (COMEX), with several technical indicators and patterns that can Read More…
Interest futures increased on Thursday due to lower Treasury yields and a weaker dollar, signaling further evidence of a slowdown in the US economy. Prices will end the week strong, as poor US data over the week has strengthened the case for two Federal Reserve rate cuts this year. This week, investors have digested several Read More…
Oil prices rose 1% on Wednesday as Fed rate cut optimism overshadowed an unexpected increase in crude inventories. However, prices had dropped in the previous sessions as inventors worried about looming oversupply in the market. US private payrolls (Source: ADP Research Institute) On Wednesday, Federal Reserve rate cut expectations increased after a poor US employment Read More…
Introduction ES has broken above its all time high once more as bulls have gained the upper hand. There are some important levels to keep an eye on for the daily chart and possible entries we could look for. Currently, we don’t see any bearish trade opportunities. Technical Analysis Price Action Moving Averages Relative Strength Read More…
Gold prices retreated on Tuesday from the previous session’s highs as investors digested downbeat US data. Notably, there is more rate-cut optimism in the markets after last week’s US inflation data, which is keeping gold elevated. The move on Tuesday came about as investors took profits after the previous session’s gains. On Monday, gold rose Read More…
US equities rose on Monday because of weaker-than-expected manufacturing data, which increased the likelihood of a Federal Reserve interest rate cut in September. Meanwhile, a New York Stock Exchange malfunction caused some trading gaps in most equities. US manufacturing (Source: ISM) There was a bit more rate-cut optimism in the markets on Monday, which improved Read More…
Currency futures ended higher as the dollar retreated after data revealed a slight cooling of inflation in the US. Economic data from regions like Japan and the Eurozone also affected currency futures. The US dollar had its first monthly decline in May due to lower-than-expected inflation. The first three months of the year saw the Read More…
Introduction The Nasdaq e-mini futures (NQ) painted a huge bullish candle from last Friday in the form of a doji that is busy confirming a morning star pattern. The price has already pushed above last Friday’s high, confirming the bullish price action. The doji from Friday also bounced right off the 100 MA. This could Read More…
