Weekly Chart I have put a volume profile indicator onto last weeks trading which is shown in the weekly chart below. Price is sitting now just above the support where last weeks candle closed. The Point of control line is holding the price up for now and after the recent dip in the US equity Read More…
Currency futures edged higher on Friday as the dollar eased after inflation data met expectations. Consequently, the markets are continuing to anticipate that the Federal Reserve will commence reducing borrowing rates in September. However, the markets were in turmoil as the new week started. The looming BoJ and BoE policy meetings and poor risk appetite Read More…
Interest futures rose on Thursday but closed well below session highs after a mixed US GDP report. Moreover, investors were gearing up for the core PCE price index report due on Friday for more clues on the outlook for Fed rate cuts. US economic growth (Source: Bureau of Economic Analysis) Data on Thursday revealed that Read More…
Technical Analysis Trend and Moving Averages: The RSI is also at oversold territory adding further fuel to the possibility of a price pump from here. Technical Patterns Support and Resistance Levels: Trade Opportunities Long Position Given the RSI at oversold and the price at the lower Bollinger Band, a high-probability trade setup for a long Read More…
Oil prices rose on Wednesday, ending three sessions of declines. The increase came amid a bigger-than-expected draw in US crude and gasoline inventories. Prices remained close to a six-week low because of worries about global oil demand and a potential ceasefire in the Gaza conflict. Data on Wednesday revealed that crude stocks fell by 3.7 Read More…
Introduction On July 24, the S&P 500 closed at 5,427.13; this marks almost a 5% drop from the previous high. This drop follows a series of mixed performances over the last week. The volatility is attributed to significant losses in major tech stocks and companies within the utilities sector. Notably, shares of Vistra Corp. and Read More…
