Investors seek safety in the dollar as inflation and Chinese lockdowns fuel fears of recession. China’s zero COVID policy might lead to new restrictions and slowed growth. On Monday, the Australian dollar (6A) was pushed lower as the US dollar strengthened on positive inflation data. The dollar traded higher on Monday amid recession concerns as Read More…
Investors are on the sidelines waiting for US inflation before making their next move. Higher inflation could push gold prices above 1850.00. On the charts, the price is stuck in a symmetrical triangle. Gold futures (GC) closed slightly lower yesterday after moving sideways through the day. This lack of volatility is because most investors are Read More…
Demand pressures are pushing oil prices higher. Investors expect inventories to go down in the US due to the expected rise in demand. China is on the path to reducing its inventories as it reopens. Crude oil bulls are experiencing resistance at 120.00 on the charts. Crude oil futures (CL) is trading higher above $120 Read More…
Mixed signals on Monday left the index in a range. Musk’s threat to walk out of the Twitter deal spooks investors. Technically, the price of ES is consolidating between 4072 to 4200. The E-mini S&P 500 (ES) futures closed Monday slightly lower after a choppy session. The index had a choppy session because gains in Read More…
Technical indicators have always been faulted for lagging, making price action analysis invaluable to any trader. With hundreds of chart patterns to choose from, it may not be easy to decide which one is more reliable and suited to your trading style. However, it’s a general consensus that the ideal ones should generally be easy Read More…
Gold futures have paused a two-day rally ahead of the nonfarm payroll data from the US. Elon Musk’s plan to lay off workers could point to a poor job market. The boost in oil production announced by OPEC may not be enough to satisfy global supply needs. Gold futures (GC) are trading lower on Friday Read More…
