Weekly Chart: The price action is hovering above an established multi-year support zone that is the main point for the bull’s case. The Alligator indicator shows the Jaw, Teeth, and Lips converging, signaling a potential consolidation phase. However, with the price maintaining levels above the Alligator’s Lips, we maintain a bullish outlook. The RSI is Read More…
Tag: crude oil futures (CL)
Oil Dips Amid China’s Economic Woes and Unexpected US Inventory Surge
Oil fell on Wednesday due to poor economic activity data from China and a higher-than-expected increase in US crude oil inventories. According to data released on Wednesday, manufacturing activity in China dropped for the fourth month in January. China is a leading oil importer. Therefore, a decline in economic activity in the country means a Read More…
T-Bond futures: multi-timeframe analysis
Weekly Chart On the weekly chart, bond buying is evident as the yields have continued to decrease since 2020. The RSI has moved above the neutral zone and is sitting at 53.19. The weekly does not give much clues about where we could see it moving in the near term and is neutral. Daily Chart Read More…
Scalp Trading vs Day Trading Strategies
Introduction to Scalp Trading and Day Trading Scalp trading and day trading are two prominent trading strategies with very distinct approaches. Scalp trading involves making many trades in a single day to capture small price movements. It requires close market monitoring and high precision. Day trading refers to buying and selling financial instruments within the Read More…
Surprising Crude Draw Sends Oil Prices Soaring by 1%
On Wednesday, oil prices increased by approximately 1%, driven by a larger-than-expected decline in US crude inventories. Other factors that supported the rally include a decline in US crude output, Chinese economic stimulus, geopolitical tensions, and a weakening dollar. China’s central bank plans to reduce the reserve requirements for banks starting from February 5, aiming Read More…
NASDAQ Futures (NQ) firmly bullish
Weekly Chart Analysis for NASDAQ 100 E-mini Futures:The weekly chart shows price in a clear ascending channel pattern, with NQ positioned in the upper half of the channel. The Relative Strength Index (RSI) is sitting in overbought territory, however. The all-time high (ATH) stands as the ultimate resistance level, which price has closed above in Read More…