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…
On Tuesday, US equities closed higher as economically sensitive sectors made gains. Investors were anticipating inflation data and the upcoming policy meeting of the Fed next week. The inflation data is expected to indicate a slight cooling of consumer prices in May compared to the previous month, but core prices are likely to remain high. Read More…
On Monday, US equities closed lower as investors deliberated the possibility of the US Federal Reserve pausing its interest rate hikes during the upcoming policy meeting. Meanwhile, Apple experienced a brief surge to a record high before eventually losing ground. Apple Inc. ended the day with a 0.8% decline after introducing an augmented-reality headset called Read More…
Currency futures slid on Friday as the US dollar gained value due to a surge in employment numbers reported in May. In May, public and private sector payroll rose by 339,000, exceeding the average forecast of 190,000 by economists. This increase followed a rise of 253,000 in April. However, despite the strong hiring, the unemployment Read More…
