A recap of the Bullish Parabolic curve. CL looking more Bullish Potential targets of $90 & $93.64 are still probable. The Parabola The parabolic curve mentioned in last week’s analysis has been tested on five different sessions now, with each attempt being bought up, resulting in bullish candlestick formations on the daily chart. This indicates Read More…
Investors are optimistic the Fed will pause rate hikes as the US economy cools. Business activity in the US fell further below 50 in October. 74.7% of the S&P 500 businesses have reported higher-than-expected earnings. E-mini S&P 500 (ES) futures prices rose on Tuesday, building on gains from the previous week. Indications of economic slowdown Read More…
Gold Futures prices bounce off the minor support zone. The smaller time frames show many trade opportunities. The bearish sentiment remains. Quick Recap Last week, we mentioned the possibility of a bounce out of the minor support zone at $1,622.20-$1638.50 within the larger term downtrend. Take a look at the article here to get a Read More…
Target 1 hit from Monday’s trade idea. The Daily chart shows the formation of a bullish Parabola pattern. CL retraces into the Gaussian Channel for the first time since July. Recap From Monday CL has dropped about 4.5% since Monday, and the price target of $82 stated in our analysis has been hit for a Read More…
Gold prices are struggling as US Treasury yields make new highs. Markets expect the Fed to maintain its aggressive stance, which might hurt gold prices. The US labor market continues to show resilience amid rising interest rates. The yield on 10-year US Treasury notes has increased to levels last seen in June 2008, and persistently Read More…
US president Joe Biden announces another Strategic Petroleum Reserve release. There are demand concerns as China’s economy deteriorates. Us crude oil inventories fell more than expected last week, showing improved demand. Crude oil (CL) futures prices started October and 4Q’22 strong; however, the subsequent price movement has been affected by concerns about the resumption of Read More…
