Introduction This is a follow-up to the 15 July analysis, where price was sitting around 52,901 with room to run toward 53,500–54,000 before hitting real resistance. The price has not changed much since then but did get a small bounce off the 78% Fib level and now bulls look to be finding their footing before Read More…
Equities fell on Monday as oil prices rose after the US attacked an Iranian island in the Strait of Hormuz. Iran retaliated by targeting US bases in Jordan, causing worries about an escalation.
Currency futures were subdued on Monday as the dollar remained elevated after Friday’s rally. The greenback soared after the Fed Chair’s comments increased rate hike expectations.
Introduction Gold has pulled back from a recent high near 4,650 after testing and breaking above the 200 day MA. What we are watching for now is whether this is just a pullback in a longer-term uptrend or if we move down to the 50-day MA and possibly even below $4,200. Gold Futures Trend Analysis Read More…
Introduction Silver has hit the first target from our 28 July analysis. The descending triangle broke upward, and price has run from the mid-57 area to 71.470, clearing the 71.24 objective we set at the time. That objective was the slow moving average, which has since risen to 73.601, and that is now the level Read More…
Interest futures were down on Friday as market participants looked forward to key speeches during the Jackson Hole symposium. Meanwhile, a surge in oil prices on Wednesday and Thursday supported Treasury yields, hurting bonds.
