US equities finished slightly lower on Tuesday as traders considered remarks made by a top American regulator regarding failing banks. Michael Barr, head of the Federal Reserve’s banking division, stated that Silicon Valley Bank’s risk management was “terrible” before it collapsed. One of the greatest drags on the S&P 500 was the decline in share Read More…
Bulls target $13,500 Nasdaq Futures have been on an uptrend since September 2022, with bulls targeting $13,500 as the 50% Fibonacci retracement level. The current price stands at $12,800, indicating a potential upside of nearly 5% from current levels. The Relative Strength Index (RSI) has been printing higher highs since September 2022, indicating the strength Read More…
Wall Street equities rose on Monday as worries about the banking system were reduced. First Citizens BancShares stated it would take over the deposits and loans of insolvent Silicon Valley Bank. The S&P 500 bank index, which had closed down more than 22% for the month on Friday, ended the day up 3%. The deal Read More…
Technical analysis Price action: There is a strong band of support that has formed at the $1,738 level, which was our previous bearish target. It is all the 0.78 Fibonacci level. The candlesticks show strong bullish sentiment as every time price dips below $1,738, it gets bid back up. This can be seen by the multiple wicks Read More…
Currency futures fell on Friday as the dollar rose amid banking crisis worries. The euro and the pound both experienced significant declines on Friday. European banking stocks dropped on concerns that the worst issues to affect the industry since the 2008 financial crisis had not yet been resolved. Deutsche Bank and UBS Group took the Read More…
Technical analysis Let’s get straight to the point and look at what the Dow is doing. At the moment, price has found a substantial amount of support between $32,000 and $33,000. I have made the chart clear to show just the candlestick patterns because that is the primary driver we are going to be using Read More…
