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Archives by Year:
The Commodities Feed: Eyes On OPEC+
Image Source: Unsplash Energy – OPEC+ meeting Oil prices came under pressure yesterday despite a supportive EIA weekly inventory report. Instead, the oil market got caught up in the broader weakness in the complex, which saw Brent settle more than 2% lower on the day. The OPEC+ meeting scheduled for Sunday will also likely see some […]
Elliott Wave Technical Analysis: Cardano Crypto Price News For Friday, May 31
Image Source: PexelsElliott Wave Analysis TradingLounge Daily ChartCardano/ U.S. dollar(ADAUSD)ADAUSD Elliott Wave Technical Analysis Function: Counter TrendMode: CorrectiveStructure: FlatPosition: Wave CDirection Next higher Degrees: wave (II) of ImpulseWave Cancel invalid level: Details: Wave II Is equal to 61.8% of Wave I at 0.358Cardano/ U.S. dollar(ADAUSD)Trading Strategy: The correction in wave (II) is likely to test the 61.8% level (0.359) […]
Stocks Slip On May 30, 2024, As The Market Rotates From Growth To Value, For Now
Image Source: UnsplashSalesforce’s (CRM) results yesterday took down the entire software group today, leading to another noticeable divergence between indexes. This time, the S&P 500 was down about 60 bps, and the equal-weight RSP ETF was higher by about 45 bps—the reverse of Tuesday.The rebound in the RSP ETF didn’t accomplish much, and the ETF is […]
Gold Has Done Its Job – Isn’t That Enough?
Image Source: Pixabay GOLD HAS DONE ITS JOB For most of us who understand what gold is (and, what it isn’t), gold continues to perform as reasonably expected. Rather, its price continues to reflect the ongoing loss of purchasing power in the U.S. dollar. Gold, itself, isn’t doing anything at all. (see Not About Gold; All About […]
This Short Squeeze Could Make Our Entire Month
Image Source: Unsplash Final Day of May… Let’s Do This!! Markets just completed a 2-leg pullback on the 60min chart – the perfect spot for a Short Squeeze to finish the month!Tomorrow’s the final day of the month, and we have another BIG inflation report coming out…Combine that with this beautiful 2-leg pullback on the hourly […]
EUR/USD Monthly Forecast: June 2024
Image Source: Pixabay Having begun the month of May with signs of upwards momentum taking place in the last week of April, the EUR/USD promptly fell to a low of 1.06500 on the 1st of May. However, since this low water mark was seen the EUR/USD again started to show signs of percolation and correlated to the […]
Nasdaq 100 & S&P 500 Elliott Wave Update – Thursday, May 30
Image Source: UnsplashBoth the NQ and ES continued lower for most of Thursday’s sessions – which aligns with some minor cycles heading into their respective “troughs” – between now and the beginning of June. I discuss the potential for the minuet 4th waves in both the NQ and ES may have completed at this afternoon’s lows, […]
Euro Breaks Key Support Against US Dollar, Correction Underway?
Image Source: PixabayThe EURUSD currency pair has broken below the key 1.0804 support level, suggesting that the recent upside move from the 1.0600 low has likely completed at the 1.0894 high. This technical breakdown has opened the door for a potential deeper correction. Further Downside Risks Emerge Following the break of the 1.0804 support, the next […]
How To Relax And Enjoy A Profitable Crypto Summer
Image Source: UnsplashAside from gold and the gold bugs, I can’t think of another asset class that fires up and drives those “animal spirits” the way cryptocurrency does. It’s been around 15 years since Bitcoin made its “Pizza Day” debut on markets, but it wasn’t until the mid-2010s that it started to gain some mainstream popularity. […]
Gold Price Advances Modestly, All Eyes On US PCE Data
Image Source: Unsplash Gold price trades with a mild positive bias on Friday. The weaker USD and decline of US yields support the yellow metal. Investors will take more cues from the US April PCE inflation data, which is due on Friday. Gold price (XAU/USD) rises modestly on Friday on the back of the softer US dollar […]
