Investors are expecting Google and Microsoft earnings reports later in the week. Walmart slashed its forecasts on Monday. On the charts, the price has found support at the 30-SMA. Today’s E-mini S&P 500 (ES) futures outlook is slightly bearish as markets face uncertainties about earnings and the looming Federal Reserve rate hike. Tech companies like Read More…
UK business activity fell less than expected in July. The probability of a 50-bps rate hike by the BoE has significantly decreased. UK consumer confidence is still at an all-time low. Today’s British pound (6B) futures outlook is bullish as investors expected a significant drop in business activity in the UK but were surprised by Read More…
Dollar weakness after the ECB meeting has boosted gold futures. Gold has become cheaper for overseas buyers. The gold rally might be short-lived. Today’s gold futures (GC) outlook is bullish as the yellow metal shot up in price after the ECB rate hike. Gold becomes cheaper for overseas buyers as the dollar weakens, boosting demand. Read More…
US gasoline inventories rose higher than investors expected. Supply concerns eased after crude production resumed in Libya. The Keystone Pipeline in Canada is still operating at reduced rates. Today’s crude oil (CL) futures outlook is bearish as investors worry over demand after US data showed a drop in gasoline consumption. US West Texas Intermediate crude Read More…
Trading the support and resistance levels of an asset is probably one of the oldest and most reliable technical strategies. It goes without saying that asset prices never trend in a straight line – any trending market is often punctuated with momentary pullbacks or retracements. This is where Fibonacci retracement levels come in. These levels Read More…
Netflix gave investors hope with optimistic growth forecasts. Risk sentiment has improved in the markets. On the charts, the price of NQ has broken above the 12200 mark. Today’s E-mini Nasdaq 100 (NQ) futures outlook is bullish after upbeat results from US companies overnight. Nasdaq futures gained 0.5% after stronger-than-expected results from Netflix offered a Read More…
