Introduction The S&P 500 is at an important level now because if the bulls are strong enough to hold above 7657 it is a good chance that we see a move higher once more to test the new ATH which made made on the 13th of August. The pullback from there is only 2.28% which Read More…
Interest futures soared on Wednesday after the US Treasury Department announced it would intervene to support the bond market.
Follow-Up: What Played Out Since August 12 The coil we flagged on August 12 has resolved, and it went the wrong way for the bulls. We had NQ compressed in a 350-point range beneath 30,000, with a close above that number opening 30,300 and a close below 29,553 putting 29,000 back in play. Price spent Read More…
Oil resumed its rally on Thursday as market participants worried about supply disruptions in the Middle East. Hopes to reopen the Strait of Hormuz have faded as the US and Iran disagree on the terms.
ES has pulled back from its fresh all-time high at 7,838 to retest 7,720 – the prior ATH as support. RSI is holding above the 50 midline at 55.73, keeping the broader uptrend structure intact. Trade Setup Bias: Long Entry: Close green for August 19 session Stop: 7,595 Target 1: 7,838 Target 2: Continuation above Read More…
Gold prices fell on Tuesday as yields gained amid rising tensions in the Middle East. Progress towards a deal has stalled, with Iran saying the Strait of Hormuz will remain closed. As a result, oil prices rose, rekindling inflation worries and increasing chances of a Fed rate hike in September. Gold (Source: Bloomberg) Bullion has Read More…
