Introduction Nasdaq futures have bounced out of the 29,000 support zone after testing the support zone (light blue zone). On the 3 September session price is 29,286. The first real resistance overhead is the 200-day moving average at 29,368, and above that we still have to deal with Friday’s high at 29,811. If the bulls Read More…
Oil prices soared to levels last seen in July as tensions in the Middle East escalated. After pausing for almost a month, the US and Iran were back to missile and drone attacks
Introduction Gold futures are pulling back after a strong rally stalled at the 61.8% Fibonacci retracement (4,683) and the 200-day moving average (4,638). Those two levels were close together, and that’s where the resistance came in. On the 2 September session price is 4,356. The 78% Fib near 4,400 has given way, and the 50-day Read More…
Gold prices collapsed on Tuesday as rising tensions in the Middle East ignited inflation worries, sending Treasury yields higher. At the same time, Fed rate hike expectations continued rising after Warsh’s hawkish comments on Friday.
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.
