Data released on Wednesday revealed that US producer prices declined. Americans submitting new claims for unemployment benefits unexpectedly decreased. Permits for new construction in the US fell to a more than 2-1/2-year low. Gold dipped on Friday as the dollar strengthened. However, it was still on track to post a fifth straight weekly gain as Read More…
Gold completes a bullish break of a rising wedge pattern on the daily chart. RSI is overbought and showing signs of a possible consolidation or retracement. A very interesting story about a gold futures trader who did not close his position in time. Rising Wedge Update Last week we looked at the rising wedge in Read More…
Price finds resistance at the year-long trend line once more. Yesterday’s session forms a bearish candle, but bulls appear to still be in control. Why the market rally we have seen recently is purely fundamental. Year Long Trend Line Strikes Again The trend channel we have discussed so many times in the technicals has proven Read More…
Meet Julian, a skilled trader from Argentina who resides in beautiful Ghent, Belgium. Julian’s trading style is that of a scalper, where he trades e-mini contracts such as the S&P 500 and Crude Oil, utilizing 5-minute and 1-hour charts. His expertise in this field has led him to achieve a significant milestone in his trading Read More…
Wall Street’s top investment banks saw their financial fortunes diverge. Goldman’s fourth-quarter profit of $3.32 per share fell short of the Wall Street forecast of $5.48. The Bank of Japan maintained its ultra-easy monetary policy. Equities fell after Goldman Sachs reported disappointing profits. Wall Street’s top investment banks saw their financial fortunes diverge, with Morgan Read More…
Recent inflation trends mean the Dollar is weakening and the Pound is strengthening The world bank is calling for a recession this year Bulls are in full control as they target the point of control level at $1.3 Fundamentals Driving New Price Discovery With the recent inflation showing a reversal in trend, we are seeing Read More…
