On Friday, currency futures rose on upbeat data while the dollar fell after US business activity data. However, currencies traded within a narrow range as US markets closed early following Thanksgiving. In November, US business activity remained stable. However, the private sector witnessed its first decline in almost three-and-a-half years, aligning with predictions of a Read More…
Last week, we analyzed the price action in Gold and maintained a bullish stance on the yellow metal. As we look at the updated price discovery, nothing has changed with GC now moving into a price level to test an important resistance level at $2019. The Gold chart shows a significant recovery from a support Read More…
On Thursday, gold prices rose as the US dollar weakened, but investors stayed on the sidelines due to holiday-thinned trading and uncertainty about the Federal Reserve’s rate path. However, gold was heading for a second consecutive weekly gain. Financial markets in the past week witnessed declining yields and a weakening US dollar, which favor an Read More…
On Wednesday, oil prices dropped nearly 1% in a volatile session. OPEC+ unexpectedly postponed a meeting on production cuts from November 26 to November 30, fueling concerns about global crude supplies. The group, consisting of major producers like Saudi Arabia and Russia, was supposed to discuss the possibility of expanding oil output cuts into 2024. Prices Read More…
Introduction Today, we take a technical view of the NASDAQ 100 E-mini Futures (NQ) using both weekly and daily charts to identify critical price levels and trends. Equities are targeting all-time highs, and NQ is no different. Let’s see what the charts tell us and if we see all-time highs being hit by year’s end. Read More…
On Tuesday, US equities declined as the S&P 500 and Nasdaq ended their five-session winning streaks. Retailers faced losses due to disappointing outlooks, and technology shares also fell. The decline continued as minutes from the latest Federal Reserve meeting revealed a consensus among officials to approach raising US interest rates cautiously. The central bank indicated Read More…
