Oil prices rose nearly 2% on Wednesday due to a larger-than-expected drop in US crude inventories. At the same time, oil demand increased as Fed policymakers indicated that the recent decline in inflation would pave the way for rate cuts. Brent futures (Source: ICE Futures Europe, Bloomberg) The Energy Information Administration reported that inventories fell Read More…
Introduction What if you are long stocks and the price only went up? What if the RSI was overbought ALL THE TIME? Would you think its time for a retracement? No, you wouldn’t because euphoria is striking, and that is dangerous. It is even difficult to do technical analysis because the price only goes up Read More…
On Tuesday, gold prices reached a record high as investors gained confidence about a September Fed rate cut. The new all-time high came despite better-than-expected US retail sales figures, which boosted the dollar. Gold traders have focused mainly on the recent US consumer inflation report and Federal Reserve policymaker remarks. Fed officials gained confidence after Read More…
Equities rose on Monday as investors priced in a higher likelihood of a Trump win after the attempted murder. At the same time, optimism about rate cuts in the US after Powell’s dovish comments remained. On Saturday, an assassination attempt against Trump raised the chances that he would win the November election. A Trump win Read More…
Recap We covered the underperformance in RTY futures a few weeks ago and said that we were getting close to the time that RTY needs to catch up to the greater market. It looks like we are finally at that time now and RTY is on its way up. You can read the previous analysis Read More…
CL Volatility We havent seen much volatility after the very uncomforting attempt on former US President Donald Trumps life this morning. The week ahead could be a very hostile one after this event on the weekend as well as OPEC monthly report and EIA report this week. Let’s see if we can position ourselves properly Read More…
