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…
Technical analysis Like all other US indices, YM has been surging on the back of strong US data. The Dow Jones is currently testing the horizontal resistance level of an ascending triangle formation on a daily time frame. The question is whether bulls will be strong enough to be able to push price through current Read More…
Price action If we look at the weekly time frame, the chart almost looks vertical. NQ has rallied hard, with big tech stocks like Apple hitting new all-time highs. It shows you that even in an environment of high-interest rates, the market can still do strange things. Sticking to technicals is the way forward. Weekly Read More…
On Wednesday, oil prices rose by about 1% as Saudi Arabia’s significant output cuts countered concerns about rising US fuel stocks and weak Chinese export data. Dennis Kissler, the senior vice president of trading at BOK Financial, described the oil futures market as a battleground between slowing manufacturing demand, lower diesel consumption, and anticipated production Read More…
RTY shoot through low volume nodes Bulls have completely taken control of RTY as it has rocketed 7% in four days. One of these reasons is that as RTY broke above $1,820, it entered into low-volume nodes all the way up to $1,873. Low-volume nodes have little liquidity, meaning price tends to break through them Read More…
Recap In the middle of last month, we looked at a potential short setup as GC was showing signs of being overbought. It was also trading at the top of an upward-sloping channel which signaled to us that the top may be in for the time being. (Read more) Technical analysis There are a few Read More…
