Breakdown of the Setup: The price action shows a clear ascending triangle formation, with multiple tests of resistance at 5,725.75, creating a natural tension between buyers and sellers. The recent breakout above this level confirms the pattern’s completion, and we’re already seeing follow-through. The measured move from the breakout gives us an upside target near Read More…
Oil rebounded on Thursday due to an unexpected draw in crude inventories. However, prices ended near a two-week low on Wednesday as downward pressure from demand concerns and easing Middle East tensions persisted. China’s weak economic performance has led to a downgrade in the global oil outlook. Meanwhile, the calm between Israel and Iran has Read More…
Gold prices rose on Tuesday and Wednesday as a decline in Treasury yields increased demand for the non-yielding metal. Meanwhile, market participants awaited more data from the US on sales and jobless claims for clues on the Fed’s future policy moves. Gold (Source: Bloomberg) Treasury yields slipped after data revealed soft manufacturing activity in New Read More…
Equities ended higher on Monday as technology stocks rallied despite thin holiday trading. Risk sentiment improved on Friday after major banks reported positive earnings. Meanwhile, market participants are preparing for the crucial US retail sales report later this week. S&P 500 earnings estimates (Source: Bloomberg Intelligence) Despite poor estimates, the stock market rose as the Read More…
Currency futures ended nearly flat on Friday as the dollar paused after a set of mixed data barely changed the outlook for Fed rate cuts. Although consumer inflation jumped, producer prices missed forecasts. The dollar ralied last week before pausing on Friday. The rally came after consumer inflation figures beat forecasts. The CPI increased by Read More…
Interest futures fell on Thursday as mixed US data led to a slight decline in Fed rate cut expectations. Data showed that inflation in September was higher than expected. Meanwhile, employment figures showed weakness in the labor market last week. US core inflation (Bureau of Labor Statistics) Consumer Price Index figures on Thursday revealed that Read More…
