Introduction CL Futures saw a huge rally of 5% yesterday as the EIA showed a larger than expected drawdown in stock piles. This has given bulls new hope that CL can break above $80 and possible head toward $100 in the future. Recent News Geopolitical Tensions: Escalating geopolitical tensions in the Middle East raised concerns Read More…
Oil prices rose by 3% on Wednesday and continued higher on Thursday as investors worried about a possible escalation in the Gaza war. At the same time, the Fed opened the door to a September rate cut, improving the outlook for oil demand. Nevertheless, this sudden oil rally was insufficient to offset oil’s monthly losses. Read More…
Gold prices rose 1% on Tuesday and extended these gains on Wednesday as investors hoped for rate cut signals from the Fed meeting. The rally in gold came despite positive US data highlighting the economy’s resilience. Gold traders eagerly await Wednesday’s FOMC meeting for direction on when the Fed might start cutting rates. Lower interest Read More…
Introduction We looked at the break out in RTY two weeks back, and now, the daily chart is forming a pennant chart pattern. The penant formation is a high probability chart pattern that can lead to a big swift move initially which is why we think we could see RTY break its ATH next week or the Read More…
Equities rose slightly on Monday and Tuesday as investors mostly stayed on the sidelines ahead of major events. Markets await key US data, major US tech earnings reports, and the Federal Reserve policy meeting. US earnings index (Source: Citigroup, Bloomberg) Monday was a choppy session for US stocks because investors held off on big positions. Read More…
Market Overview As of July 30, 2024, the E-mini Dow Jones Futures are trading at 40,788. We’ve seen a consistent uptrend over the past few months, marked by higher highs and higher lows. The price action is currently hovering around a significant resistance level which is the previous ATH, testing the 40,800 zone. At the Read More…
