Gold prices increased on Thursday with a weaker US dollar following the FOMC’s announcement of a dovish interest rate hike, indicating its tightening campaign may end. Gold traders are elated again after the Federal Reserve confirmed Wednesday’s anticipated small 25 basis point interest rate hike. After retracing from year-to-date highs on Monday and Tuesday, the Read More…
Technical analysis Gold has soared lately as the Dollar continues to lose its value. Gold bulls are now targeting the 2022 high of $2,078.8. That high was set in the month of March last year, and the chart formed a significant double top that short sellers could take advantage of. I have shown two charts Read More…
On Wednesday, oil prices increased by around 2% to a one-week peak as the dollar fell to a six-week low. This followed the US Federal Reserve’s announcement of an expected modest rate hike and a suggestion that it was ready to pause further hikes. In response to recent market instability brought on by the collapse Read More…
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…
US equities closed substantially higher on Tuesday as market players focused on the Federal Reserve. This came as widespread concerns regarding liquidity in the banking sector subsided. The Fed is anticipated to end its two-day policy meeting on Wednesday with a 25 basis-point increase to its policy rate. Regional bank collapses this week, followed by 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…
