Technical Analysis Trend and Moving Averages: The RSI is also at oversold territory adding further fuel to the possibility of a price pump from here. Technical Patterns Support and Resistance Levels: Trade Opportunities Long Position Given the RSI at oversold and the price at the lower Bollinger Band, a high-probability trade setup for a long Read More…
Oil prices rose on Wednesday, ending three sessions of declines. The increase came amid a bigger-than-expected draw in US crude and gasoline inventories. Prices remained close to a six-week low because of worries about global oil demand and a potential ceasefire in the Gaza conflict. Data on Wednesday revealed that crude stocks fell by 3.7 Read More…
Introduction On July 24, the S&P 500 closed at 5,427.13; this marks almost a 5% drop from the previous high. This drop follows a series of mixed performances over the last week. The volatility is attributed to significant losses in major tech stocks and companies within the utilities sector. Notably, shares of Vistra Corp. and Read More…
Gold prices ended higher on Tuesday, rebounding ahead of more US economic data this week. At the same time, news that India, the second largest consumer of gold, cut import duties improved the demand outlook for gold, boosting prices. Gold traders eagerly await GDP and inflation data from the US, which will come later in Read More…
Introduction There is an interesting pattern on the 6J daily chart that we could take advantage of. Since the middle of 2021, the Yen has been in a downtrend compared to the Dollar, but we want to look at the retracements during that period. Putting a 50 and 100 sma on the chart, there is Read More…
Equities ended higher on Monday as risk appetite improved and demand for mega-cap growth stocks increased. Shares of big companies like Alphabet, Tesla, and Nvidia led gains. At the same time, investors were preparing for this week’s US inflation report, which could reshape the outlook for Fed rate cuts. Nvidia rose by 4.8% after Reuters Read More…
