OPEC+ agreed to cut supplies by nearly 2 million bpd. The Joe Biden administration criticized the OPEC+ agreement as “shortsighted.” US crude oil inventories fell for the fourth week showing a rise in demand. Crude oil (CL) futures prices increased on Thursday for the fourth time this week. OPEC+ decided to significantly reduce the global Read More…
YM Bounces Out Of Major Support Fibonacci Moving Average Analysis Spinning Top Candlestick From Yesterday’s Session A possible Dead Cat Bounce? YM Bounces Out Of Major Support The E-mini Dow (YM) traded inside the support band between $28,688 and $29,692. This area is within the accumulation zone and topped back in 2020. The rumors that Read More…
Gold rallies 7% in a week on the back of weak US data Prices Rally back inside a multi-year support zone Pivot Points give potential turning points on shorter time frames Gold Rallies On Back Of Weak US Data and Dollar Gold prices rallied over 7% within a week as the US reported weaker data Read More…
The UN and other Economists Urge Fed To Halt Rate Hikes NQ Bouncing Off Yearly Lows False Break Candle Setup UN Urges Fed To Halt Rate Hikes Even though these articles are focused on technical analysis, we cannot forget the macro-economic picture because it can significantly impact our technical decisions. The UN has urged the Read More…
Risk sentiment is improving as US treasury yields fall. Manufacturing activity in the US grew slowly, pointing to reduced demand. Higher interest rates are discouraging consumers from spending in the manufacturing sector. E-mini S&P 500 futures prices increased by about 2% on Monday as US Treasury yields fell due to weaker-than-expected manufacturing data, boosting the Read More…
Overall Trend Remains Bearish As Momentum Indicator Continues To Slump Analysis Of Parallel Channel, Moving Average Band, And Momentum Indicator Potential Game Plan As Euro Continues To Slide Bearish Trend Continues There is not much change in the daily chart from when we previously analyzed 6E back in September. We were looking primarily at taking Read More…
