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Gold: $2000 Might Still Be Resistance

Gold: $2000 Might Still Be Resistance

One of the fun things about bull markets is watching resistance levels turn into support. Gold, for instance, spent three years banging into $2000/oz and recently broke through, touching $2125 on December 1.Then the selling started, pushing the price down to, as this is written, $1997.  If the “$2000 is now support” thesis holds, buyers will enter […]
The Unipolar World Is Over

The Unipolar World Is Over

Geopolitical tensions are running at multidecade highs. We all know about Israel v. Hamas and Russia v. Ukraine. But what about Guyana?Outside of my friend René Aninao at CORBU Research, today’s guest on Global Macro Update, Felix Zulauf, is one of the few geopolitical experts talking about it.Zulauf was a global strategist for UBS Bank and […]
Grains Report – Friday, December 8

Grains Report – Friday, December 8

Image Source: DepositPhotosDJ USDA Report: Recap for U.S. Agriculture Supply, Demand The following table of analysts’ estimates is provided as a service to The Wall Street Journal subscribers in conjunction with the U.S. Department of Agriculture’s monthly supply-and-demand report scheduled for release at noon ET on Friday. U. S. Stockpiles (millions) 2023-24 Average Range USDA Nov. […]
Chart Of The Day: Arcellx – Reimagining Cell Therapy

Chart Of The Day: Arcellx – Reimagining Cell Therapy

The Chart of the Day belongs to the immunotherapy company Arcellx (ACLX). I found the stock by using Barchart’s powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart  feature to review the charts for consistent price appreciation. Since […]
Goldilocks: Jobs Rise 199K, Beating Estimates As Striking Workers Return; Unemployment Rate Drops

Goldilocks: Jobs Rise 199K, Beating Estimates As Striking Workers Return; Unemployment Rate Drops

Ahead of today’s jobs report (which we previewed as being focused mostly on the unemployment rate), we said that the whisper was for a stronger report due to the mandatory political talking points for the White House taking credit for all those strikers coming back to work…… and lo and behold, that’s precisely what happened, with the total […]
WTI Recovers Above $70.00 On Russia-saudi Joint Statement On Output Cuts

WTI Recovers Above $70.00 On Russia-saudi Joint Statement On Output Cuts

Image Source: DepositPhotosWestern Texas Intermediate (WTI), the US crude oil benchmark, is trading around $70.85 on Friday. WTI bounces off the six-month lows as Russia and Saudi Arabia asked the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) members to adhere to production output cuts.On Thursday, Saudi Arabia and Russia, the world’s two […]
Current Analysis: Vector Group

Current Analysis: Vector Group

Image Source: DdepositPhotosVector Group Ltd (VGR) through its subsidiaries, manufactures and sells cigarettes and deals real estate in the United States. Its operating segments are (1) Tobacco, and (2) Real Estate.The company produces cigarettes under the Eagle 20’s, Pyramid, Montego, Grand Prix, Liggett, Select, Eve, and USA brand names, as well as various partner snd […]
EUR/USD Forecast: Looking For Buyers Waiting For NFP

EUR/USD Forecast: Looking For Buyers Waiting For NFP

Notably, the upcoming Friday session holds potential significance, as employment data may influence the Federal Reserve’s course of action, or at least the perception of what they may or may not do.  The EUR/USD exhibited a back-and-forth pattern during Thursday’s trading session, with its focus honed on the 200-Day EMA, and indicator that people sometimes pay close […]
Oil Rebounds After DOE Seeks To Buy 3 Million Barrels For SPR In March

Oil Rebounds After DOE Seeks To Buy 3 Million Barrels For SPR In March

With oil plunging an (almost) unprecedented 7 weeks in a row, the longest such stretch since 2018…… and many momentum chasing experts – the same ones who two months ago were calling for triple digit oil – already predicting that Saudi Arabia will soon be forced to do what it did in March 2020 when […]
The Energy Report: 9 Lives

The Energy Report: 9 Lives

Image Source: DepositPhotosEven a dead cat can bounce occasionally, with apologies to cat lovers. After an almost record-breaking string of 7 weekly losses, oil prices are trying to find support ahead of the monthly jobs report and the fact that the oil fundamentals are not so bearish.It seems that OPEC is already showing signs of […]