Oil prices dropped by about 1% to a one-week low on Wednesday following the Fed’s rate decision. The US Federal Reserve held rates unchanged as markets had expected. However, it maintained its hawkish stance with another rate hike projected for the end of this year. Brent futures for November delivery went down 81 cents, or Read More…
Introduction The Dollar has rallied 6% since July. This might not sound like a significant amount, but it is a significant move for a currency paired against a basket of other currencies. The DXY index topped out at 114.7 in September last year, then started falling and dropping to a low of 99.5 in July. Read More…
Weekly Chart Zooming out and looking at price action from the start of the year shows us a small resemblance to a cup formation, which leads me to believe that if we see a handle in the next few weeks or months, there is potential for a much bigger bullish move in ES, one that Read More…
On Monday, US equities closed with minimal changes as investors awaited the US Federal Reserve’s upcoming policy decision. The three major US stock indices ended the day with slight gains in a volatile session, but investors lacked firm conviction leading into the Fed’s two-day monetary policy meeting. The week’s focal point is the Federal Reserve’s Read More…
Recap The last time we looked at Gold, we already identified a symmetrical triangle formation on the daily chart that could be the catalyst for a move in either direction. Yesterday, GC bounced off the low of that triangle and could be allowing the bulls to go long. Before we move on to this week’s Read More…
Technical Analysis NQ is currently stuck within a range that could be used as an opportunity to buy lows as the general market sentiment remains bullish. Once the bounce occurred on August 18th, NQ began moving sideways as traders who got in early were taking profits. Traders who missed the move have begun buying, hoping Read More…
