Introduction Gold has now clearly broken down from the symmetrical triangle that we discussed in the previous analysis. The important $5,000 level has failed, and the price is dropping fast. What was a balanced consolidation is no longer neutral. The market has chosen direction, and for now that direction is to the downside. The focus Read More…
Crude oil prices surged significantly this week as tensions rose in the Middle East, supply chains were disrupted, and prices rose sharply, making markets worry that the energy crisis will last a long time. The war between the US, Israel, and Iran has effectively closed the Strait of Hormuz, a key waterway that carries about Read More…
Introduction Crude Oil (CL) has now begun to find its feet since the start of the war in the Middle East. The picture for CL has been one of price discovery after a massive spike in the price. See our previous analysis here. After the initial surge and sharp rejection, price has begun to stabilize Read More…
On Wednesday, gold futures went up slightly and stayed close to the $5,000 psychological level. Investors remained cautious ahead of the US Federal Reserve’s decision on policy. The price of spot gold went up 0.15% to $5,010.03 per ounce, while the US gold futures for April delivery went up 0.13% to $5,014.24. Traders stayed cautious Read More…
Introduction Gold futures (GC) have just broken below the symmetrical triangle on the daily chart and bulls are holding the price up with support being found at the pivot point level. In the previous analysis, the focus was on a possible expansion for the price. The lack of follow-through so far after the breakout leads Read More…
US equities advanced on Monday, rebounding from last week’s risk-off sentiment as easing oil prices and tentative signs of stability in the Middle East lifted investor confidence. The S&P 500 rose about 1.1%, while the Dow Jones Industrial Average gained roughly 1% and the Nasdaq Composite added 1.2%. The move higher came as crude prices Read More…
