Introduction In our previous analysis on ES, we noted that the bulls were struggling to push price above the recent high and resistance zone at $5333. Now that a week has passed, the bears have stepped in and there is a red engulfing candle forming on the weekly chart that could close as a evening Read More…
Introduction The Nasdaq 100 futures are currently trading around 18,876.75. Over the past month, the index experienced a gain of approximately 5.76% since late April (Barchart.com). This performance is driven by strong corporate earnings from major tech companies like Nvidia and Microsoft, which have posted better-than-expected results. Nvidia’s surge of 9% following earnings and optimistic Read More…
A quick recap on our CL analysis done earlier in the week needs to be done as CL has failed to break below the support zone. The bulls stepped back in and the chart has put in a solid bottom candle formation. If we grind down to a shorter time frame, there is a false Read More…
All Time High Resistance ES bulls attempted to break above the all-time high but have failed with a nasty-looking daily candle for the 23rd. This could be an opportunity to short as there is also some small bearish resistance on the RSI. Long Trade Opportunities Short Trade Opportunities News Events Coming Up To Watch Consumer Read More…
According to the U.S. Energy Information Administration (EIA), crude oil prices are expected to average around $90 per barrel for the remainder of 2024, driven by OPEC+ production cuts and ongoing geopolitical risks. However, they anticipate a decline to an average of $85 per barrel in 2025 due to increasing global oil production (EIA Homepage) Read More…
Gold futures have experienced significant volatility in 2024, driven by economic and geopolitical factors. After closing 2023 at $2,135.39 per ounce, gold prices have continued to rise, reaching new highs. As of mid-May 2024, gold futures were trading around $2,316 to $2,322 per ounce, with fluctuations influenced by the strength of the U.S. dollar and Read More…
