There are predictions that the US Federal Reserve will raise interest rates more slowly. Consumer prices in the United States declined in December. Initial claims for state unemployment benefits decreased by 1,000 last week. Gold prices were expected to increase for a fourth straight week, helped by a weaker dollar and predictions that the US Read More…
Tag: Futures
Russell 2000 (RTY) Spikes Out Of Yearly Trend Line
Bulls have taken control as RTY breaks through the year-long trend line. Analyzing the DMI indicator and how it can help our decision-making. Potential pullback entries that can be taken on the 4 hourly chart. Bulls Supreme RTY futures have soared out of the year-long downtrend line that has kept the bearish momentum in most Read More…
Oil Gains as China’s Demand Overshadows US Inventories Build
China’s oil demand forecast has brightened. There are worries about the impact of sanctions on Russian crude production. Crude stockpiles increased by 19.0 million barrels last week. Although increases were modest ahead of incoming inflation data from the United States, oil prices increased on Thursday, adding to gains from the previous session as China’s demand Read More…
Equities Climb amid Absence of Policy Clues in Powell’s Speech
Fed Chair Jerome Powell avoided discussing rate policy in his speech. Powell emphasized that the Fed’s independence was crucial to fight inflation. US inflation for December is expected to be 6.5%, down from 7.1% in November. Equities climbed on Wednesday while the dollar held steady as investors awaited US inflation figures for clues on the Read More…
Gold Futures (GC) Soar Spectacularly Into 2023
Analyzing the rising wedge, RSI, Fibonacci retracements, and candlesticks on the daily. Looking at why it’s likely we see Gold retrace from here ($1,880). How bulls can initiate longs if they are patient. Quick Recap Gold was trading at around $1,845 on January 5th from the last GC analysis. I stated the likelihood of a minor Read More…
NASDAQ Futures (NQ) Bears Out Of Hibernation
There is an inverted hammer that has formed on the daily chart. Setting targets for the head & shoulders pattern on the hourly. Analyzing why bears appear to be in control at the moment. Daily Chart Analysis In yesterday’s session, we saw NQ attempt to break out of a small support zone that has formed Read More…