Recap In last week’s analysis, we watched the CL price close below the range we have been monitoring since December 2022. The bears were strong enough to continue pushing the price lower. The added selling pressure from bulls who needed to liquidate their longs helped the price plunge from $71 to $64. Any traders who took Read More…
Zoomed out daily chart outlook It has been a while since we looked at the S&P 500. The inverse head and shoulder we have been monitoring is still playing itself out slowly as price continues to sit on the neckline. Finally, we see price is pushing above the neckline. The swing high at $4,208.75 would Read More…
Technical analysis The bulls are in control as the Dollar weakens. The Euro is strengthening, and it’s evident on the chart. Price has tested the zone within the gaussian channel and has bounced successfully out of it. This is a good sign for trend-following traders who wish to go long the Euro because the trend Read More…
NQ rallies, Dollar falls Nasdaq has rallied off the 0.236 Fib level at $11,967.50. There was a significant amount of support at this level even after we saw the Dow and Russell 2000 drop. ES and NQ have slightly decoupled from the other equity markets and are holding stronger for the time being. Outlook It Read More…
Gold soars 8% in 2 weeks Last week Tuesday marked the recent low for GC as it has rallied hard on the back of a weak Dollar. We saw price bounce out of a minor support zone and rally up toward the 0.786 Fib level at $1,980.3. The next target for Gold bulls is the Read More…
Recap Last week, we watched RTY plunge and set a bearish target of $1,738. As suspected, Russell futures continued to tank, and we have seen the target met. Bears appear to be in full control, but the question is whether we have bottomed out or we can expect the slide to continue. Looking at the Read More…
