On Wednesday, oil prices dropped over $5 due to a decline in fuel demand and a gloomier economic outlook. Both benchmark prices hit session lows, plummeting more than $5, while heating oil and gasoline futures also saw a more than 5% decrease. Since last week’s settlement, crude oil prices have fallen by approximately $10. The Read More…
Quick Recap Last week, we looked at Gold, and the bearish stance we took has proven to be correct, as the $1,831 target has been hit. Unfortunately, however, it was a difficult short trade to take because GC only painted red candles after the analysis, thus giving us no entry on a retracement. Moving forward, Read More…
US equities fell on Tuesday, reflecting concerns that the Federal Reserve may need to maintain high interest rates due to economic data. The S&P 500 index dipped to the lowest level since June 1. Meanwhile, the Dow went into negative territory for the year, ending at its lowest point since May 31. The Nasdaq also Read More…
Technical Analysis CL made a top last week of $95.03 and has retraced 7.4% since then. This is a welcome sight for traders who missed the move from $67.05 up to $95.03 as it gives possible entry opportunities, which we will look at now. Entry Opportunities An upward-sloping trend line connects the low made in Read More…
Introduction Prices of ZB (30-year US Treasury bond futures) go down when buying of bonds accelerates due to the inverse relationship between bond prices and yields. When demand for bonds increases, buyers compete to purchase available bonds, driving bond prices higher. However, as bond prices rise, the fixed coupon payments become less attractive relative to Read More…
On Friday, currency futures edged higher against a weakening dollar. Still, the dollar was poised to achieve its largest quarterly gain in a year, marking the 11th consecutive week of gains. Investors factored in the probability of a strong economy and sustained higher interest rates. Despite earlier setbacks, the greenback rebounded following data revealing an Read More…
