The parabolic curve on the CL chart continues to act as support. A Potential inverse Head & Shoulders formation on the 4-Hourly time frame. Point of control volume profile acting as resistance. Daily Chart Recap From last week’s multiple tests of the parabolic curve, CL is repeating the same tests once more, with the price Read More…
Gold bears are targeting lower prices. Spinning top from yesterday’s session on the Daily chart. Price retraces to test the neckline of a head & shoulders on the 2-Hourly chart. Recap From Earlier This Week On Monday 24th, we looked at the slight bounce in Gold prices out of the minor support potentially forming a Read More…
The US dollar reverses losses, making gold more expensive for overseas buyers. The US economy makes an unexpected recovery in Q3. US consumer spending fell to 1.4%, indicating reduced demand. Gold (GC) futures prices declined in choppy trading as a gain in the dollar offset support for the precious metal. Gold had been rising on Read More…
US oil exports last week averaged 11.4 million barrels per day. The weaker dollar supports oil prices by making it cheaper for overseas buyers. US officials were forced to scale back the Russian price-cap plan. Following a session-high increase of more than 3%, crude oil (CL) futures prices continued to surge in early Asian trade Read More…
A recap of the Bullish Parabolic curve. CL looking more Bullish Potential targets of $90 & $93.64 are still probable. The Parabola The parabolic curve mentioned in last week’s analysis has been tested on five different sessions now, with each attempt being bought up, resulting in bullish candlestick formations on the daily chart. This indicates Read More…
Alphabet and Microsoft reported weaker-than-expected quarterly earnings. Data released Tuesday indicated a decline in consumer confidence amid rising inflation. Markets are betting on a lower 50bps hike from the Fed in December. Most U.S. Equity Futures index prices, including the E-mini Nasdaq-100 (NQ) futures, closed substantially higher on Tuesday, boosted by dropping benchmark Treasury yields. Read More…
