Monthly Chart Analysis:The long-term monthly trend has revealed a downward pressure since its peak around 2020. However, recent candles suggest a potential stabilization. The Momentum indicator has dropped into negative territory, which tells us there is a slowdown in the selling pressure. Daily Chart Analysis:Price action has settled around key moving averages as the battle Read More…
Interest futures ended Thursday mixed as positive data from the US pushed up Treasury yields and weighed on the bond market. Still, prices remained near Wednesday’s highs due to Powell’s reassurance on rate cuts. US initial jobless claims (Source: Labor Department) Data on Thursday revealed that the US economy remains robust despite higher interest rates. Read More…
Like most markets around the world at the moment, US equities are on a tear, especially after the rate data yesterday. It is really difficult to find a bearish opportunity in this market, which points us in the direction of ‘the trend is your friend’. Daily Chart:The market is trading within a rising channel, showing Read More…
Oil prices fell on Wednesday despite a draw in crude inventories and the Fed maintaining its rate-cut outlook. Moreover, investors remained worried about supply disruptions in Russia as the war continued. Oil prices rallied in the previous two sessions due to these supply concerns. Therefore, the pause on Wednesday could have been due to profit-taking. Read More…
Daily Chart:A potential reversal candle is forming after the recent downturn we have seen in Bitcoin. The Awesome Oscillator shows a decrease in momentum, highlighted by the shrinking green bars turning red. BTC has been on a tear, up over 50% for the year. A pullback was going to come eventually but the question is Read More…
Gold prices dropped on Tuesday amid a stronger dollar as markets awaited the Fed monetary policy meeting. A stronger dollar makes gold expensive for foreign buyers, hurting demand. The dollar strengthened amid speculation that the Fed would revert to its hawkish tone after inflation beat forecasts. Initially, gold had rallied to record highs after Powell Read More…
