Gold bears are targeting lower prices. Spinning top from yesterday’s session on the Daily chart. Price retraces to test the neckline of a head & shoulders on the 2-Hourly chart. Recap From Earlier This Week On Monday 24th, we looked at the slight bounce in Gold prices out of the minor support potentially forming a Read More…
The US dollar reverses losses, making gold more expensive for overseas buyers. The US economy makes an unexpected recovery in Q3. US consumer spending fell to 1.4%, indicating reduced demand. Gold (GC) futures prices declined in choppy trading as a gain in the dollar offset support for the precious metal. Gold had been rising on Read More…
The recent price run-up seems to be slowing down. Resistance has been found at the 78% Fib level. Expecting lower prices for NQ with a possible target of $11,068.50. Daily Chart The Fibonacci retracements give us a possible scenario where the price could test the 100% line at $11,068.50. Looking at the recent bounce off Read More…
US oil exports last week averaged 11.4 million barrels per day. The weaker dollar supports oil prices by making it cheaper for overseas buyers. US officials were forced to scale back the Russian price-cap plan. Following a session-high increase of more than 3%, crude oil (CL) futures prices continued to surge in early Asian trade Read More…
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…
