US equities ended Monday mixed as investors prepared for the release of the all-important US consumer inflation report. The Nasdaq and the S&P 500 ended the day slightly lower. Meanwhile, the Dow rose slightly. Monday was a relatively quiet day for equities as investors mostly stayed on the sidelines awaiting the inflation report. However, the Read More…
Weekly Chart Analysis of Gold Futures The weekly clearly shows the market is consolidating. The Fibonacci retracement levels from the recent swing high and low indicate that the price is hovering around the 100 level (previous all time high). Bulls still need to see a decisive break above this in order to continue with the Read More…
Weekly Timeframe Analysis:On the weekly chart, we can see price has been in a solid uptrend since the beginning of the year. The Relative Strength Index is currently in overbought territory. Despite the overbought RSI, we should consider the prevailing uptrend as the dominant force until price action suggests otherwise. Daily Timeframe Analysis:The daily chart Read More…
Oil prices rose on Wednesday due to rising tensions in the Middle East that could lead to tighter supply. At the same time, a surprise drop in gasoline stocks indicated an increase in demand. Aggregate open interest in crude (Source: ICE, CME) Investors are buying more oil futures, expecting tighter supply and higher prices. Israel Read More…
Gold prices rose on Tuesday, pausing a decline that started on Friday after the US jobs report. The recovery came as the dollar and Treasury yields pulled back from recent highs. However, this decline might be short-lived if fundamentals continue pointing to delayed rate cuts in the US. Fed rate cut expectations (Source: Bloomberg) Notably, Read More…
US equities closed Monday in the red as Powell maintained his hawkish stance, dampening rate cut expectations. In a speech on Sunday, the Fed chair said that inflation in the US needs to show a consistent downtrend for rate cuts to start. According to the central bank, inflation remains high. Therefore, the economy still needs Read More…
