Liz Truss’s new finance minister, Jeremy Hunt, has improved the market mood. Jeremy Hunt promises to focus on growth underpinned by stability. Goldman Sachs lowers its 2023 UK economic growth outlook from a 0.4% decline to a 1% decline. British pound (6B) futures prices rose on Monday after the announcement that Chancellor Jeremy Hunt will Read More…
CL shows a bearish outlook in the short term. Bears are to be wary of the potential formation of a Bull Flag. The 1-2-3 reversal target is on hold for now. Bearish Technical Outlook Though the fundamentals are slightly bullish regarding CL, the technicals are painting a different picture for the time being, especially on Read More…
Investors are expecting a significant rate hike after a higher US inflation reading. Both the Fed and Joe Biden’s administration are fighting to lower inflation. Gold remains less attractive as interest rates rise in the US. Gold (GC) futures prices collapsed after investors digested a higher reading on US inflation that stoked speculation about a Read More…
Despite their various advantages, nearly every technical indicator is faulted for lagging. Price action trading eliminates the overreliance on technical indicators simply by using candlestick and chart patterns to identify optimal entries and exits. The basis for price action trading is pure market movement; in a sense, price action trading is the foundation of all Read More…
NQ maintaining a bearish outlook with multiple shorting opportunities. A new Indicator Review. A price target of $10,000 is still possible for NQ. Outlook Bearish With Potential Shorts Available The Price of NQ swung violently yesterday after the CPI report was released. Prices dropped about 5.3%, then reversed course and closed up 1.8% on the Read More…
Short-term targets using the Parabola The Cup & Handle analysis Possible bearish targets are $3,543.25 and $3,433.5 The Parabola Parabolas are not very popular tools in technical analysis, but they can be extremely useful in determining trends and targets that many other market participants cannot see. There is a parabolic curve with three connection points Read More…
