Weekly Chart Zooming out and looking at price action from the start of the year shows us a small resemblance to a cup formation, which leads me to believe that if we see a handle in the next few weeks or months, there is potential for a much bigger bullish move in ES, one that Read More…
Recap The last time we looked at Gold, we already identified a symmetrical triangle formation on the daily chart that could be the catalyst for a move in either direction. Yesterday, GC bounced off the low of that triangle and could be allowing the bulls to go long. Before we move on to this week’s Read More…
On Friday, currency futures rose as the US dollar dropped due to decreased consumer sentiment data. However, the dollar still recorded a ninth consecutive week of gains. Meanwhile, the yen reached a 10-month low. US consumer sentiment (Source: University of Michigan, Bloomberg) The University of Michigan’s Consumer Sentiment Index preliminary reading for this month was Read More…
Technical Analysis NQ is currently stuck within a range that could be used as an opportunity to buy lows as the general market sentiment remains bullish. Once the bounce occurred on August 18th, NQ began moving sideways as traders who got in early were taking profits. Traders who missed the move have begun buying, hoping Read More…
Recap Last week, CL broke out of a key resistance level and surged above $82. The market is closing in on $90 as we speak, which brings the psychological $100 level into play. Market fundamentals are driving bullish sentiment all around, but what are the technicals telling us? Technical Analysis The $100 psychological level is Read More…
US equities closed with losses on Tuesday as Oracle’s shares plunged over 13%, driven by a pessimistic forecast. Moreover, surging oil prices heightened concerns about persistent inflation pressures before critical inflation reports. Oracle’s shares plummeted to their lowest point since June. The cloud services provider projected the current-quarter revenue below expectations and narrowly missed first-quarter Read More…
