Introduction Crude oil futures continue to weaken following our previous analysis, with sellers pushing below the important support level at $74. This was a very important zone to stay above for the bullish case to remain intact, as the market is now starting to turn bearish rather than consolidating within a longer-term uptrend. The market Read More…
Introduction Russell 2000 futures continue to quietly outperform after the sharp recovery from the April lows. While the S&P 500 and Nasdaq have received most of the attention, small caps have steadily climbed higher, pushing into fresh yearly highs. The price remains firmly bullish, though it might not be as strong as the rally we Read More…
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…
