Recap Our GC analysis has been spot-on since the start of these articles, and last week was no different. Today we will take a look at how the trade ideas from last week are coming into play today. Read the previous article here. Technical analysis 100-Day MA: Price is bouncing off the 100-MA on the daily. It Read More…
Oil prices fell by 1.5% on Wednesday after the US Federal Reserve announced more interest rate hikes for 2023. This news raised concerns about demand in the market, especially after government data revealed a significant unexpected increase in US crude oil stocks. Oil had climbed more than 1.5% earlier in the session. The previous day, Read More…
Bulls take control In the previous analysis I did on 6E, I mentioned the possibility of a bullish reversal. That has now been confirmed with strong bullish price action. The trade was a high-risk, potentially high-reward play, but it is working out at the moment. Take a look at the previous article here and the chart below: Read More…
Equities rose on Tuesday amid optimism of a looming Fed pause. The S&P 500 and Nasdaq achieved their highest closing points in 14 months. This was driven by the data release indicating a modest increase in consumer prices in May. As a result, investors are now more confident that the Fed will not lift interest Read More…
Parabolic curve The parabolic curve on the daily chart for CL has been our main focus point for most of the crude oil analysis this year. It stretches back to July of last year and still remains a strong formation. Price is currently sitting at $70 per barrel, and bears are still unable to push Read More…
Currency futures fell as investors awaited inflation data and the Federal Reserve’s interest rate decision. At the same time, the dollar rebounded from its two-week lows on Friday. The Federal Reserve will likely keep rates unchanged at its June 13-14 meeting. Still, it will likely maintain a hawkish stance and suggest a possible rate hike Read More…
