Update On May 29th, we looked at the inverse head and shoulders breaking out of the neckline. Today we look at how that trade is going and what bulls could do to manage their position moving forward. ES has surged through the neckline, now up 7.5% from the last technical article we did. Bulls are firmly in Read More…
Recap Our GC analysis has been spot-on since the start of these articles, and last week was no different. Today we will take a look at how the trade ideas from last week are coming into play today. Read the previous article here. Technical analysis 100-Day MA: Price is bouncing off the 100-MA on the daily. It Read More…
Oil prices fell by 1.5% on Wednesday after the US Federal Reserve announced more interest rate hikes for 2023. This news raised concerns about demand in the market, especially after government data revealed a significant unexpected increase in US crude oil stocks. Oil had climbed more than 1.5% earlier in the session. The previous day, Read More…
Bulls take control In the previous analysis I did on 6E, I mentioned the possibility of a bullish reversal. That has now been confirmed with strong bullish price action. The trade was a high-risk, potentially high-reward play, but it is working out at the moment. Take a look at the previous article here and the chart below: Read More…
Parabolic curve The parabolic curve on the daily chart for CL has been our main focus point for most of the crude oil analysis this year. It stretches back to July of last year and still remains a strong formation. Price is currently sitting at $70 per barrel, and bears are still unable to push Read More…
US equities rose on Monday, with the S&P 500 and the Nasdaq reaching their highest closing levels since April 2022. Investors eagerly awaited the week’s inflation data and the Federal Reserve’s interest rate decision. Amazon, Apple, and Tesla contributed to the S&P 500’s recovery of 21% from its October 2022 lows. Some investors believe Wall Read More…
