Wall Street equities rose on Monday as worries about the banking system were reduced. First Citizens BancShares stated it would take over the deposits and loans of insolvent Silicon Valley Bank. The S&P 500 bank index, which had closed down more than 22% for the month on Friday, ended the day up 3%. The deal Read More…
Technical analysis Let’s get straight to the point and look at what the Dow is doing. At the moment, price has found a substantial amount of support between $32,000 and $33,000. I have made the chart clear to show just the candlestick patterns because that is the primary driver we are going to be using Read More…
Technical analysis Gold has soared lately as the Dollar continues to lose its value. Gold bulls are now targeting the 2022 high of $2,078.8. That high was set in the month of March last year, and the chart formed a significant double top that short sellers could take advantage of. I have shown two charts Read More…
Recap In last week’s analysis, we watched the CL price close below the range we have been monitoring since December 2022. The bears were strong enough to continue pushing the price lower. The added selling pressure from bulls who needed to liquidate their longs helped the price plunge from $71 to $64. Any traders who took Read More…
US equities closed substantially higher on Tuesday as market players focused on the Federal Reserve. This came as widespread concerns regarding liquidity in the banking sector subsided. The Fed is anticipated to end its two-day policy meeting on Wednesday with a 25 basis-point increase to its policy rate. Regional bank collapses this week, followed by Read More…
Zoomed out daily chart outlook It has been a while since we looked at the S&P 500. The inverse head and shoulder we have been monitoring is still playing itself out slowly as price continues to sit on the neckline. Finally, we see price is pushing above the neckline. The swing high at $4,208.75 would Read More…
