US PMI shows a significant decline in business activity in July. The US economy shrank by 0.6% in Q2, showing signs of a looming recession. Gold futures prices could fall further if Powell is hawkish during the Jackson Hole meeting. The latest Flash US Composite PMI from S&P Global is not encouraging for the American Read More…
OPEC+ may reduce output to support oil prices. Iran’s nuclear program deal is at a standstill. Oil prices increase after a drop in US crude oil inventories. The possibility of output reduction, the partial suspension of a US refinery, and growing supply fears due to delays in Russian exports drove up crude oil (CL) futures Read More…
1-2-3 Reversal target hit A minor pullback on longer time frames expected Market Sentiment remains bullish 1-2-3 Reversal On 4-Hour Chart A very high probability chart pattern known as the 1-2-3 reversal was formed on the 4-hour time frame of the E-mini S&P 500 (ES). The first point was formed on June 17th, the second Read More…
1,739.6 USD gap filled Prices consolidate after the downtrend GDP growth rate report to be released on August 25th The Gap We pointed out last week in our Gold analysis that if the bearish trend gained more momentum, the gap made on July 27th would likely be a target to fill. We have seen that Read More…
Investors following market patterns are bullish. Investors with access to inflation and earnings data are bearish. Overall market sentiment is bearish on renewed recession worries. Investors following market patterns are becoming more optimistic about the U.S. stock market’s recovery, raising expectations for E-mini Nasdaq 100 (NQ) in the second half of 2022. Stronger-than-expected corporate earnings Read More…
Moving averages (MAs) are among the most popular technical trading indicators. Their popularity majorly stems from their simplicity and versatility – they are easy to calculate and use; can be used to show both a price action’s trend and strength. Thanks to their popularity, several variations of the moving average exist. This guide will discuss Read More…
