On Thursday, gold experienced a rise of up to 0.8% in response to the data release indicating that the US consumer price index increased by a lower-than-expected 3.2% annually. US inflation (Bureau of Labor Statistics) This growth fell short of the 3.3% forecast from the Reuters poll. Still, the overall outcome has led to speculation Read More…
Introduction As the Dollar continues to be at the forefront of the news due to Fed policy, is it time for it to drop once more? DXY has lost 13% of its value since the high was made back in September of last year (See chart below). Keeping this purely technical, let’s look at a Read More…
On Wednesday, oil prices rose as the global Brent benchmark surged to its highest since January. This rise came after US fuel reserves were significantly reduced, combined with output cuts from Saudi Arabia and Russia. These cuts overshadowed worries about sluggish demand from China. The West Texas Intermediate crude ended at $84.40, marking a $1.48 Read More…
Introduction The most prominent feature on the Gold chart the last time we looked at it was the danger of a triple top formation on the weekly time frame. This is still a worry for the bulls but there is some hope for them in the form of a parabolic curve and a minor support Read More…
On Tuesday, US equities ended the day in decline due to a widespread sell-off. The credit rating agency Moody’s downgraded several lenders, sparking renewed concerns about the well-being of US banks and the economy. After a five-month surge, which brought the S&P 500 and Nasdaq Composite close to their all-time highs, August has seen five Read More…
Recap The last time we looked at NQ was July 21st. Price was surging toward resistance at the all-time high of $16767. NQ dropped shortly after that article, not making another high since then. We have seen a healthy pullback of 5.7% since then, so the question arises, what is the best way to play Read More…
