Gold completes a bullish break of a rising wedge pattern on the daily chart. RSI is overbought and showing signs of a possible consolidation or retracement. A very interesting story about a gold futures trader who did not close his position in time. Rising Wedge Update Last week we looked at the rising wedge in Read More…
Price finds resistance at the year-long trend line once more. Yesterday’s session forms a bearish candle, but bulls appear to still be in control. Why the market rally we have seen recently is purely fundamental. Year Long Trend Line Strikes Again The trend channel we have discussed so many times in the technicals has proven Read More…
Meet Julian, a skilled trader from Argentina who resides in beautiful Ghent, Belgium. Julian’s trading style is that of a scalper, where he trades e-mini contracts such as the S&P 500 and Crude Oil, utilizing 5-minute and 1-hour charts. His expertise in this field has led him to achieve a significant milestone in his trading Read More…
US retail sales fell by 1.1% last month, the largest drop since December 2021. US manufacturing output decreased more than forecast in December. US crude oil stockpiles increased by around 7.6 million barrels last week. The price of oil futures dropped by as much as $1 on Thursday due to concerns about the impending recession. Read More…
Wall Street’s top investment banks saw their financial fortunes diverge. Goldman’s fourth-quarter profit of $3.32 per share fell short of the Wall Street forecast of $5.48. The Bank of Japan maintained its ultra-easy monetary policy. Equities fell after Goldman Sachs reported disappointing profits. Wall Street’s top investment banks saw their financial fortunes diverge, with Morgan Read More…
Recent inflation trends mean the Dollar is weakening and the Pound is strengthening The world bank is calling for a recession this year Bulls are in full control as they target the point of control level at $1.3 Fundamentals Driving New Price Discovery With the recent inflation showing a reversal in trend, we are seeing Read More…
