Introduction Last Friday NQ closed the week’s session in the form of a spinning top. The price action is mixed, but there is a case that looks stronger for bulls than for bears from here. The reason is due to the large uptrend we have seen in equities this year, as well as the small Read More…
Gold prices tumbled on Thursday as investors evaluated recent US economic data and awaited a crucial inflation report. They also closely watched Washington to see if US lawmakers could prevent a government shutdown. Gold also struggled due to soaring Treasury yields, which hovered near their highest levels in 16 years. This rise followed the Federal Read More…
Oil prices jumped 3% on Wednesday to the highest closing price in 2023 after a steep drop in US crude inventories increased fears of tight global supplies. According to government data, US crude inventories dropped by 2.2 million barrels to 416.3 million last week. The figure beat the 320,000-barrel drop forecast by analysts in a Read More…
Recap Last week our main focus was on the small triangle formation on the Gold daily chart. Recently, price has broken out of the bottom of this triangle as the bears haven proven too strong. There are a few levels we can monitor at the moment and potential ways to trade this setup so lets Read More…
On Tuesday, US equities declined by more than 1% as 10-year Treasury yields maintained their multi-year highs. Investors grappled with the possibility of prolonged high interest rates and the resulting economic consequences. US Treasury Yields (Source: Bloomberg) Amid rising Treasury yields, the Dow experienced its most significant one-day percentage drop since March, and all three Read More…
Bulls In Control Crude Oil continues to surge as small dips are eaten up quickly by powerful buying pressure. The question here is if there is any bearish case, really. It appears that there is none, which is important to note moving forward as CL targets the psychological $100 level. In our last technical analysis, Read More…
