Recap We have been tracking the sideways range in CL for some time. There has finally been a bearish break below $71.72, which is the lower end of the range. CL is currently trading at $70 per barrel. The next few days will prove important because it will show us whether crude is going to continue lower Read More…
US equities were down on Monday due to falling bank shares as investors feared a ripple effect from the Silicon Valley Bank collapse. However, trading was choppy, and the Nasdaq composite closed higher as some sectors benefited from expectations that the Federal Reserve would scale back its interest rate increases. Investors were concerned about dangers Read More…
The Euro has rallied 2.7% in three days, a large amount for a currency. Reason being, the collapse of svb bank and the easing of US job numbers. This indicates it’s likely the FED will not raise interest rates in the next meeting. The Dollar collapsed alongside the equity markets as fear spread. Technicals The Read More…
Currency futures climbed on Friday as the dollar was hurt by signs of a softening US labor market. The United States February labor figures showed weaker wage growth, enhancing the chance that the Federal Reserve may restrict rate hikes to a minimum. The US economy created more jobs than expected in February. However, slower pay Read More…
On Thursday, gold prices surged as Treasury yields fell due to indications that the Federal Reserve’s restrictive policy is starting to take effect as intended. Investors were also preparing for Friday’s highly anticipated release of the Labor Department’s February jobs report. The dollar fell from a nearly three-month high, gold increased, and benchmark US Treasury Read More…
Update on price action The small cap index has dropped 10% since the recent high in RTY, which was $2,015. The price has plunged dramatically and is currently in free fall. Let’s take a look at some technical levels we can watch out for going forward. The main bear target is at $1,738 which is Read More…
