Examining the weekly chart, the index has firmly established support within the 36,000 region, demonstrated by the green box marking previous resistance now turned support. The Relative Strength Index on the weekly timeframe reflects strong buying interest with a reading above 74. While this indicates a powerful bullish push, traders should be cautious of the Read More…
Equities ended slightly lower on Monday ahead of US inflation data that might shape the outlook for Fed rate cuts. Investors were cautious, avoiding big positions as they awaited the US CPI report. Additionally, they took profits after Friday’s job report, which revealed weakness in the US labor market. The US will release the Consumer Read More…
Gold has always held a special allure, and in the financial markets, it is no different. Currently, Gold Futures are exhibiting strength, as indicated by the recent push towards and beyond the $2,089 level as it broke above all-time highs. On the weekly chart, the precious metal has overcome significant resistance, marked by the ‘Previous Read More…
Interest futures rallied on Thursday after Powell confirmed that the Fed will likely cut interest rates later in the year. Consequently, short-term Treasury yields declined, reflecting an increase in rate-cut bets. At the same time, investors positioned themselves ahead of the crucial nonfarm payrolls report that could further influence the Fed’s policy outlook. On Wednesday Read More…
Oil prices rose on Wednesday after Powell confirmed expectations of rate cuts this year in the US. Additionally, support for oil came from supply and demand worries. While supply continues to tighten, there are demand worries as China’s economy struggles. During his testimony to Congress, Fed Chair Powell confirmed that there will be rate cuts Read More…
Bitcoin’s remarkable rally has the cryptocurrency community buzzing as it nears the previous all-time high (ATH) of approximately $68,900. A technical analysis of the daily and weekly charts reveals a sustained upward trend that invites optimism for continued bullish momentum. The daily chart showcases Bitcoin’s substantial break above both the 50-day Simple Moving Average (SMA) Read More…
