Technical Analysis If we zoom out on the daily chart, there is a clear break of trend that has occurred after the high was put in at $4600. Since then there were two new lower lows formed on the daily chart, which I circled on the chart below, and the RSI confirmed both of them Read More…
Currency futures were on the back foot on Friday as the US dollar reached a one-week high amid expectations of Fed hawkishness. Robust US inflation data reinforced expectations that the Federal Reserve might need to maintain higher interest rates for longer. In September, the consumer price index (CPI) increased by 0.4%, keeping the annual rate Read More…
Technical analysis RSI: The RSI was oversold a few days ago but has pumped out of the zone and went from a reading of 22 to a reading of 57 in the space of 3 days. This could be a move that is too powerful in the short term, so we can expect some consolidation Read More…
On Thursday, gold prices dropped as the dollar and Treasury yields rose. This followed higher-than-expected US consumer price increases in September, which raised concerns about the Federal Reserve maintaining elevated interest rates. US inflation (Source: Bureau of Labor Statistics) The Labor Department’s report released on Thursday revealed that the annual increase in consumer prices last Read More…
On Wednesday, oil prices dropped more than 2% as concerns about supply disruptions due to Middle East conflicts eased. Moreover, Saudi Arabia, the leading OPEC producer, pledged to stabilize the market. Prices for Brent and WTI had surged over $3.50 per barrel on Monday, driven by worries that the Israel-Palestine clashes might escalate, causing global Read More…
US equities ended higher on Tuesday, marking their third consecutive day of gains. This rise followed dovish statements from US Federal Reserve officials, which caused Treasury yields to drop. At the same time, investors were cautiously monitoring the situation in the Middle East. Atlanta Fed President Raphael Bostic asserted that there was no need for Read More…
