Recap A few weeks ago, we looked at a short trade in CL. It is time for an update regarding that trade and further technical analysis that may help us find alternative opportunities. To see the previous article on CL, where we look at the short trade on the daily chart, you can do so Read More…
Analysis
Currency Futures Mixed as Dollar Gains on Safe Haven Demand
Currency futures ended mixed on Friday while the dollar closed a fifth week of gains, marking its longest winning streak in 15 months. The gains were driven by a growing demand for safer assets due to concerns about China’s economy and expectations of sustained high US interest rates. China’s economic difficulties intensified as the property Read More…
Gold’s Weekly Slide Continues Amidst 10-Month High in US Treasury Yields
Gold was headed for its fourth consecutive weekly decline as longer-term US Treasury yields surged to a 10-month peak on Thursday. This surge in yields, concerns about the enduring impact of elevated interest rates, and a struggling Chinese economy accelerated the decline of gold prices. The benchmark 10-year yields climbed to 4.312%, testing October’s 4.338%, Read More…
Nasdaq (NQ) plunges as bullish trend channel breaks
Technical Analysis Bullish trend channel: The bullish trend channel on the daily chart has now been officially broken. There are a lot of stop losses getting triggered at this point for the traders who went long. Traders who have banked a solid profit from the near 50% rally in NQ for the past 10 months Read More…
Oil Prices Slide as China Concerns Overshadow US Crude Stock Decline
On Wednesday, oil prices dropped despite a significant decrease in US crude stocks. Investors were torn between concerns about China’s struggling economy and the anticipation of tighter supply in the United States. In the previous session, oil benchmarks fell more than 1%, reaching their lowest point since August 8th. WTI and Brent futures (Source: Nymex, ICE) Read More…
Bulls looking for bounce as Gold futures (GC) touch significant support
Recap In this week’s Gold technicals, we will focus on shorter time frames for possible long entries that could yield excellent short-term profits. In our previous analysis, we were waiting for Gold to retrace to the support level of $1924.4. Price is currently there, and now is the time to look for opportunities. If you Read More…