Oil prices jumped 3% on Wednesday to the highest closing price in 2023 after a steep drop in US crude inventories increased fears of tight global supplies. According to government data, US crude inventories dropped by 2.2 million barrels to 416.3 million last week. The figure beat the 320,000-barrel drop forecast by analysts in a Read More…
Analysis
Gold Crashes, Levels To Watch Out For
Recap Last week our main focus was on the small triangle formation on the Gold daily chart. Recently, price has broken out of the bottom of this triangle as the bears haven proven too strong. There are a few levels we can monitor at the moment and potential ways to trade this setup so lets Read More…
Equities Slide as 10-Year Treasury Yields Remain Elevated
On Tuesday, US equities declined by more than 1% as 10-year Treasury yields maintained their multi-year highs. Investors grappled with the possibility of prolonged high interest rates and the resulting economic consequences. US Treasury Yields (Source: Bloomberg) Amid rising Treasury yields, the Dow experienced its most significant one-day percentage drop since March, and all three Read More…
Oil Bulls Sing As Profits Roll In: Technical Analysis
Bulls In Control Crude Oil continues to surge as small dips are eaten up quickly by powerful buying pressure. The question here is if there is any bearish case, really. It appears that there is none, which is important to note moving forward as CL targets the psychological $100 level. In our last technical analysis, Read More…
Equities Climb with Amazon and Energy Sector
US equities gained ground on Monday as Amazon.com shares and the energy sector saw increases. Treasury yields continued to rise. Investors await economic data and Federal Reserve policymakers’ statements for clarity on interest rates later in the week. US long-end Treasury Yields (Source: Bloomberg) Investors are contending with benchmark Treasury yields reaching 16-year highs. This Read More…
NASDAQ Futures (NQ) Buying Opportunity Awaits
Bulls Are Ready The bulls are ready to pounce as NQ trades within the support zone at $14,800. This is the most significant zone on the chart at the moment, and a bounce from here could mark the opportunity to go long. In this week’s analysis of NQ, we are going to keep it short Read More…