Oil prices fell nearly 4% on Wednesday, extending declines caused by the reopening of the Strait of Hormuz. Meanwhile, market participants are paying close attention to ongoing talks between the US and Iran for a longer-lasting peace deal. Brent futures (Source: ICE Futures Europe) Sentiment in the oil market shifted significantly last week after the Read More…
Introduction Silver futures have moved exactly where the risks were pointing in our June 4 analysis. At the time, we noted that buyers needed to defend the 250,000 ($25/oz) support area to maintain the longer-term bullish structure. Instead, silver continued drifting lower throughout June and has now broken beneath both the 250,000 level and the Read More…
Gold continued sliding on Tuesday as demand fell amid a rally in Treasury yields. The precious metal started falling after the Fed held a surprisingly hawkish stance last week. Afterwards, rate hike expectations soared, increasing the opportunity cost of holding gold. It also overshadowed optimism from easing geopolitical tensions in the Middle East. Bullion has Read More…
Introduction Gold futures continue to follow the bearish roadmap we have outlined throughout June. In our June 10 and June 17 analyses, we looked at how the breakdown below the 4,400–4,450 support zone shifted control firmly toward sellers and exposed the March swing low near 4,165. While buyers initially managed to hold this support, the Read More…
Introduction It’s time for another Funded Trader Spotlight, and this week we’re featuring a trader from Russia who has achieved something incredible! Ruslan recently withdrew $23,000 from his funded account in just three trading days, bringing his total withdrawals to a very impressive $88,526. What makes this even more remarkable is the strategy he used Read More…
Introduction Since our June 16 analysis, crude oil has done exactly what we suggested was the most likely outcome. Rather than immediately breaking lower toward $70, buyers stepped in at the $74-$76 support zone and managed to stabilize price. This support area was the last major level we highlighted before the 200-day moving average near Read More…
