Weekly Chart Analysis of Gold Futures The weekly clearly shows the market is consolidating. The Fibonacci retracement levels from the recent swing high and low indicate that the price is hovering around the 100 level (previous all time high). Bulls still need to see a decisive break above this in order to continue with the Read More…
Currency futures rose on Friday as the dollar fell after data showed inflation rose less than reported in December. However, this revision failed to change the outlook for rate cuts in the US. Additionally, it became clear that inflation rose more than previously reported in October and November. Meanwhile, the dollar closed the week with Read More…
Weekly Timeframe Analysis:On the weekly chart, we can see price has been in a solid uptrend since the beginning of the year. The Relative Strength Index is currently in overbought territory. Despite the overbought RSI, we should consider the prevailing uptrend as the dominant force until price action suggests otherwise. Daily Timeframe Analysis:The daily chart Read More…
Interest futures collapsed on Thursday while Treasury yields rose as data from the US and policymakers continued to point at delayed Fed rate cuts. Labor market data from the US showed strength in the sector despite high interest rates. This gives the Fed room to keep interest rates high and lower inflation. At the same Read More…
Weekly Chart Observations: ES has been getting out of hand lately and just continues to rally no matter what. The Alligator indicator has the Lips (4821.50), Teeth (4733.71), and Jaw (4631.17) fanning out, which confirms the trend strength. Taking shorts now is highly risky and the only thing that could stop this market from going Read More…
Oil prices rose on Wednesday due to rising tensions in the Middle East that could lead to tighter supply. At the same time, a surprise drop in gasoline stocks indicated an increase in demand. Aggregate open interest in crude (Source: ICE, CME) Investors are buying more oil futures, expecting tighter supply and higher prices. Israel Read More…
