Gold prices were down on Wednesday for the third consecutive session as the outlook for higher global interest rates weighed on the non-yielding metal. At the same time, a rally in the dollar has made bullion more expensive for overseas buyers. Prices have declined despite a drop in oil prices as traders hope for a Read More…
Equities soared on Monday as growth stocks rebounded amid a decline in oil prices and Treasury yields. Oil fell after reports indicated that Trump was ready to talk with Iran at the UN meeting. At the same time, supply worries eased last week as the US military ensured continued oil transport through Oman’s coast. Last Read More…
NQ Follow-Up: Rally Confirms the Breakout Above 30,640 NQ has confirmed its breakout, and we are closing in on the all-time high. Yesterday’s session, 21 September, rallied 2.90% and has already broken above the resistance at 30,640. Now, bulls are looking for a continuation and not a stall, as ATH sits only 2% away. 30,640 Read More…
Introduction It has been about 4 months of consolidation in US equities if looking at the weekly or daily chart. Now it looks like NQ is starting to break out. The volume is high, resistance has been broken, and the price is starting to settle into a trend instead of being stuck in a range. Read More…
Currency futures pulled back on Monday as the dollar strengthened with market focus returning to US monetary policy. Meanwhile, oil prices extended last week’s declines as supply concerns eased. Saudi Arabia has made efforts to continue supplying oil despite the damage to a major pipeline that bypasses the Strait of Hormuz. Bloomberg dollar index (Source: Read More…
Introduction The S&P 500 is testing the 50-day moving average after a small pullback of 4% since the end of August. We are looking at a market that is bullish long-term and requires finding the bottom or waiting for confirmation that the trend has reversed. With some big tech names coming out with earnings in Read More…
