Optimism surrounding the US debt ceiling talks and strong economic data exerted downward pressure on gold, pushing it to a two-month low on Thursday. Safe-haven demand for bullion diminished as US President Joe Biden and top congressional Republican Kevin McCarthy neared a potential agreement to cut spending and raise the debt ceiling. The progress in Read More…
Russell 2000 RTY On April 28th, there was a long trade opportunity with an entry price of $1,747.6, a profit target of $1,826.3, and a stop loss of $1,693.7. The market has rallied since then, just missing our target by a few ticks, and has now dropped back to the original entry price. Before we look Read More…
Technical analysis YM has rolled over since the most recent local top made at $34,373 from the beginning of May. We have seen a dip of 5% which is not significant, but the price action tells us the bearish momentum may still have further to go. The 200-day moving average is being tested at the Read More…
Oil prices increased by 2% on Wednesday due to a significant and unexpected decrease in US crude inventories. The Saudi energy minister’s warning about potential OPEC+ production cuts further contributed to the rise. The Energy Information Administration on Wednesday reported a substantial weekly drawdown of 12.5 million barrels, bringing US crude inventories to 455.2 million. Read More…
US equities experienced a significant decline on Tuesday, and short-term Treasury yields surged as investor concerns heightened due to the lack of progress in US debt limit negotiations. Representatives from President Joe Biden’s administration and congressional Republicans concluded another round of talks on the debt ceiling on Tuesday. The deadline to raise the government’s borrowing Read More…
The trade Before we get into the new price action and the profitable trade regarding CL, take a look at the previous article to see how we entered the trade in the first place. The long has been successful so far, and it shows just how powerful it can be if we understand candlestick patterns objectively. The Read More…
