Technical analysis RSI: The RSI was oversold a few days ago but has pumped out of the zone and went from a reading of 22 to a reading of 57 in the space of 3 days. This could be a move that is too powerful in the short term, so we can expect some consolidation Read More…
On Thursday, gold prices dropped as the dollar and Treasury yields rose. This followed higher-than-expected US consumer price increases in September, which raised concerns about the Federal Reserve maintaining elevated interest rates. US inflation (Source: Bureau of Labor Statistics) The Labor Department’s report released on Thursday revealed that the annual increase in consumer prices last Read More…
On Wednesday, oil prices dropped more than 2% as concerns about supply disruptions due to Middle East conflicts eased. Moreover, Saudi Arabia, the leading OPEC producer, pledged to stabilize the market. Prices for Brent and WTI had surged over $3.50 per barrel on Monday, driven by worries that the Israel-Palestine clashes might escalate, causing global Read More…
Introduction Last Week, 6E closed with a green bullish hammer on the weekly chart after 10 out of 11 red weeks. A huge decline in value for the Euro. The selling in the Euro has been volatile, with every buy getting sold heavily into. The bears have been in control primarily because the Dollar has Read More…
US equities ended higher on Tuesday, marking their third consecutive day of gains. This rise followed dovish statements from US Federal Reserve officials, which caused Treasury yields to drop. At the same time, investors were cautiously monitoring the situation in the Middle East. Atlanta Fed President Raphael Bostic asserted that there was no need for Read More…
Technical Analysis ES has been in an uptrend this year, and after a sizeable pullback of 8.8% from the recent local top, it appears that the low might be in and could be the opportunity that bulls have been waiting for. Yesterday (Monday, October 10) price action formed a morning star candlestick pattern, and if Read More…
