On Wednesday, oil prices rose as the global Brent benchmark surged to its highest since January. This rise came after US fuel reserves were significantly reduced, combined with output cuts from Saudi Arabia and Russia. These cuts overshadowed worries about sluggish demand from China. The West Texas Intermediate crude ended at $84.40, marking a $1.48 Read More…
Introduction The most prominent feature on the Gold chart the last time we looked at it was the danger of a triple top formation on the weekly time frame. This is still a worry for the bulls but there is some hope for them in the form of a parabolic curve and a minor support Read More…
On Tuesday, US equities ended the day in decline due to a widespread sell-off. The credit rating agency Moody’s downgraded several lenders, sparking renewed concerns about the well-being of US banks and the economy. After a five-month surge, which brought the S&P 500 and Nasdaq Composite close to their all-time highs, August has seen five Read More…
Recap The last time we looked at NQ was July 21st. Price was surging toward resistance at the all-time high of $16767. NQ dropped shortly after that article, not making another high since then. We have seen a healthy pullback of 5.7% since then, so the question arises, what is the best way to play Read More…
US equities rebounded on Monday, recovering some ground lost the previous week. Investors increased their holdings in anticipation of Thursday’s eagerly anticipated US inflation report. Last week, the main stock indexes experienced declines. Investors took profits following months of gains due to concerns about economic data, mixed earnings, and rising Treasury yields. In 2023, US Read More…
Recap In last weeks analysis of RTY, we saw that the Russell was at a critical point where it was testing the point of control line for the volume profile indicator, the 50% fib retracement, and a major resistance level. We knew that there would be a lot of buying pressure required in order for Read More…
