Gold prices rose on Wednesday as Middle East tensions had investors looking for safety in the safe haven of yellow metal. Moreover, a decline in the dollar made gold cheaper for foreign buyers, increasing its demand. Notably, the Israel-Hamas war has escalated since last week with more strikes on vessels in the Red Sea. Additionally, Read More…
Weekly The weekly chart of the Nikkei Futures has been in a strong uptrend, as indicated by the SuperTrend indicator, which has been green for an extended period. The Awesome Oscillator (AO) is positive too as the Japanese index surges to new highs. Key Levels to Watch on the Weekly: Daily On the daily chart, Read More…
Equities closed lower on Tuesday as investors continued to absorb the shock of higher-than-expected US inflation. US markets stayed closed on Monday due to a holiday. Meanwhile, last week, the rally in equities reversed when the US reported upbeat consumer and wholesale inflation figures. As a result, investors lost hope of early Fed rate cuts Read More…
Weekly Chart The weekly time frame shows that price is approaching the previous all-time high, a big milestone for Bitty. The swing high extensions (Swing:SH Ext at 32165) serve as a reference point for potential resistance on further moves up. This swing indicator will likely print a higher low soon around $40,000. Key Levels to Read More…
Oil prices rose slightly on Monday due to supply concerns as jitters in the Middle East escalated. However, trading volume was thin as US markets were closed for the President’s Day holiday. Moreover, markets were closed earlier than usual. WTI and Brent futures (Source: ICE, Nymex) Oil has risen as supply concerns due to Middle Read More…
Weekly Chart The weekly chart has formed spinning tops near the recent all-time high. This tells us that there is indecision in the market. The RSI is currently overbought at 71.31. before the formation of the spinning tops there was only 1 red week out of 14. This amount of bullish price action cannot last Read More…
