Discover how to profit from the current rally in crude oil prices driven by a weak dollar. RSI, 1-2-3 reversal pattern, Symmetrical Triangle, and pivot points all point toward bullish momentum. Trading chart for us to visualize the bullish targets and price momentum. The driving force behind this rally Undoubtedly, the driving force behind the Read More…
Data released on Wednesday revealed that US producer prices declined. Americans submitting new claims for unemployment benefits unexpectedly decreased. Permits for new construction in the US fell to a more than 2-1/2-year low. Gold dipped on Friday as the dollar strengthened. However, it was still on track to post a fifth straight weekly gain as Read More…
Gold completes a bullish break of a rising wedge pattern on the daily chart. RSI is overbought and showing signs of a possible consolidation or retracement. A very interesting story about a gold futures trader who did not close his position in time. Rising Wedge Update Last week we looked at the rising wedge in Read More…
Price finds resistance at the year-long trend line once more. Yesterday’s session forms a bearish candle, but bulls appear to still be in control. Why the market rally we have seen recently is purely fundamental. Year Long Trend Line Strikes Again The trend channel we have discussed so many times in the technicals has proven Read More…
US retail sales fell by 1.1% last month, the largest drop since December 2021. US manufacturing output decreased more than forecast in December. US crude oil stockpiles increased by around 7.6 million barrels last week. The price of oil futures dropped by as much as $1 on Thursday due to concerns about the impending recession. Read More…
Wall Street’s top investment banks saw their financial fortunes diverge. Goldman’s fourth-quarter profit of $3.32 per share fell short of the Wall Street forecast of $5.48. The Bank of Japan maintained its ultra-easy monetary policy. Equities fell after Goldman Sachs reported disappointing profits. Wall Street’s top investment banks saw their financial fortunes diverge, with Morgan Read More…
