Breakdown of the Setup: The price action shows a clear ascending triangle formation, with multiple tests of resistance at 5,725.75, creating a natural tension between buyers and sellers. The recent breakout above this level confirms the pattern’s completion, and we’re already seeing follow-through. The measured move from the breakout gives us an upside target near Read More…
Oil rebounded on Thursday due to an unexpected draw in crude inventories. However, prices ended near a two-week low on Wednesday as downward pressure from demand concerns and easing Middle East tensions persisted. China’s weak economic performance has led to a downgrade in the global oil outlook. Meanwhile, the calm between Israel and Iran has Read More…
Gold prices rose on Tuesday and Wednesday as a decline in Treasury yields increased demand for the non-yielding metal. Meanwhile, market participants awaited more data from the US on sales and jobless claims for clues on the Fed’s future policy moves. Gold (Source: Bloomberg) Treasury yields slipped after data revealed soft manufacturing activity in New Read More…
Equities ended higher on Monday as technology stocks rallied despite thin holiday trading. Risk sentiment improved on Friday after major banks reported positive earnings. Meanwhile, market participants are preparing for the crucial US retail sales report later this week. S&P 500 earnings estimates (Source: Bloomberg Intelligence) Despite poor estimates, the stock market rose as the Read More…
Introduction Since the prior analysis conducted in mid-September, the bearish double-top formation has played out as predicted. Price Movement Since September 11 RSI (Relative Strength Index) Short-Term Outlook: Medium-Term Outlook: Final Call:
Currency futures ended nearly flat on Friday as the dollar paused after a set of mixed data barely changed the outlook for Fed rate cuts. Although consumer inflation jumped, producer prices missed forecasts. The dollar ralied last week before pausing on Friday. The rally came after consumer inflation figures beat forecasts. The CPI increased by Read More…
Bullish Structure Still Intact The price of Gold Futures (GC) has continued its strong uptrend, respecting the bullish structure from our previous analysis. The bull flag is still intact, and gold prices are on their way to hitting the bullish target of 2,842. From here we can assume that if the target is hit, it Read More…
Summary of Previous Analysis The original short trade idea was based on a failed breakout attempt above the $2,275 resistance, leading to a short entry around $2,233, with a stop loss at $2,320.5 and a target near the trendline at $2,135. The rationale for the trade was the concentration of volume in the $2,150-$2,275 range Read More…
Interest futures fell on Thursday as mixed US data led to a slight decline in Fed rate cut expectations. Data showed that inflation in September was higher than expected. Meanwhile, employment figures showed weakness in the labor market last week. US core inflation (Bureau of Labor Statistics) Consumer Price Index figures on Thursday revealed that Read More…
Fears of Iranian oil disruptions and Hurricane Milton in the US boosted oil prices on Thursday. In the previous session, prices fell due to a bigger-than-expected increase in US crude oil inventories. Oil eased on Wednesday after the US released data showing a 5.4 million barrel rise in crude inventories. Meanwhile, economists had predicted a Read More…
