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Archives by Year:
Elliott Wave Technical Analysis Day Chart: U.S. Dollar/Japanese Yen – Thursday, Nov. 9
Image Source: Pixabay USDJPY Elliott Wave Analysis Trading Lounge Day Chart, 9 November 2023U.S.Dollar/Japanese Yen (USDJPY) Day ChartUSDJPY Elliott Wave Technical AnalysisFunction: Counter TrendMode: Motive(ending diagonal)Structure: red wave 5 of CPosition: Z OF BDirection Next Lower Degrees: new Downtrend Details: wave 4 of C is looking completed at 149.185, now wave 5 of C is in […]
EIA Short Term Energy Outlook Forecast For Oil, And The Impact Of Sanctions
Image Source: UnsplashAs reported yesterday:Source: EIA.EIA also released yesterday an interesting analysis indicating that sanctions had reduced Russian oil production. No given quantity is expressed, but inferences are made on the basis of the difference between the February 2022 forecast, and actual outcomes.Source: EIA (2023).The impact of sanctions is also illustrated by the (continued) discount of Urals vs. […]
Market Briefing For Thursday, Nov. 9
Oil price declines, along with a slight mortgage rate dip, took center-stage in Wednesday’s market, which managed to hold together, but nothing exciting.FreepikThe Oil action should find price support about now, and again the Federal Government should buy Crude to re-stock the Strategic Petroleum Reserve, instead of chasing price later. In the in the meantime the […]
4-Hour Chart Elliott Wave Technical Analysis: USDJPY – Thursday, November 9
Image Source: UnsplashUSDJPY Elliott Wave Analysis Trading Lounge 4 Hour Chart, 9 November 23U.S.Dollar/Japanese Yen (USDJPY) 4 Hour ChartUSDJPY Elliott Wave Technical AnalysisFunction: Counter TrendMode: Motive(ending diagonal)Structure: red wave 5 of CPosition: Z OF BDirection Next Lower Degrees: new Downtrend Details: wave 4 of C is looking completed at 149.185, now wave 5 of C is in […]
EUR/USD Price Analysis: Hovers Above Major Support At 1.0700 Amid Lukewarm US Dollar
Image Source: Pixabay EUR/USD struggles to stay in the green zone amid weaker US Dollar. Combined technical indicators support a positive outlook for the pair. The pair could revisit the 1.0750 major level aligned to the weekly high at 1.0756. EUR/USD hovers around 1.0710 during the early European session on Thursday, struggling to continue moving in the […]
Narrow Market Leadership Doesn’t Equal Frothy Valuations
Image Source: PexelsEarnings season is nearing a close. Of S&P 500 companies, 424 have reported results, representing 87% of the Index.Better-than-expected earnings flipped estimated year-over-year earnings growth from slightly negative (-0.01%) as of October 2 to 5% growth as of November 7.The improved earnings picture coupled with a drop in interest rates have helped the index recover from […]
Gold Futures: Further Decline Looks Not Favoured
Image Source: PixabayConsidering advanced prints from CME Group for gold futures markets, open interest shrank for the second session in a row on Wednesday, this time by around 3.3K contracts. Volume followed suit and went down by around 37.3K contracts amidst the prevailing erratic performance.Gold: Next on the downside comes the 200-day SMAGold prices extended its decline […]
Fortuna Silver Reports Record Production And Financial Results For The Third Quarter Of 2023
Image Source: PixabayFortuna Silver (FSM) has spent the past 2 years building a gold mine at its Séguéla project in Côte d’Ivoire, and they are now beginning to receive the benefits of their efforts. As they just reported record production in the 3rd quarter, and a $27.5 million net income ($0.09 per share).Video Length: 00:12:31More By […]
All Things Gold – Government Default Could Mean Lower Gold Price
Image Source: UnsplashALL THINGS GOLDIn the world of “all things gold”, every event is viewed within the context of how it will affect gold prices – on the upside.Earlier this year, it was bank failures. Before that and since then, the focus was/is on the Fed with regards to a possible reduction of interest rates.Two years […]
Elliott Wave Technical Analysis: ETHUSD – Thursday, November 9
Image Source: Unsplash Elliott Wave Analysis TradingLounge Daily Chart, 9 November 23, Ethereum/ U.S. dollar(ETHUSD) ETHUSD Elliott Wave Technical Analysis Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave ((3)) Direction Next higher Degrees: wave 1 of Impulse Wave Cancel invalid level: Details: The correction is likely to end at the level of 1520. A five-wave […]
