Author Archive: Jeremy Parkinson
Broadcom Stock Unique Pattern Points To AVGO Hitting $200
Broadcom stock price is hovering near its all-time high as its march towards the $1 trillion market cap intensified. AVGO was trading at $180, a few points below the all-time high of $186. It has rallied by almost 1,200% from its lowest level in 2020. Broadcom business is growingBroadcom is a giant technology company that provides […]
Meta Platforms Inc. Stocks Elliott Wave Technical Analysis – Monday, December 9
META Elliott Wave Analysis Trading LoungeMeta Platforms Inc., (META) Daily ChartMETA Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Minor wave 5.DIRECTION: Upside in 5 of (5).DETAILS: Looking for upside into at least MediumLevel 650$. As wave 3 was as long as wave 1 we could also expect an extended wave 5 of (5) taking us towards the […]
US Dollar Bid Returns After Solid Economic Data
Image Source: Pexels The US Dollar has made a comeback after the latest round of solid economic data out of the US including a slightly better than expected NFP print and above forecast Michigan sentiment read. Odds for a more aggressive Fed rate cut this month have come off the table as a consequence.Video Length: 00:01:10More […]
The NFP Report Increased The Likelihood Of A Fed Rate Cut Next Week
Image Source: Pexels At the end of Friday, the Dow Jones (US30) was down 0.28% (for the week -0.63%). The S&P 500 Index (US500) was up 0.25% (for the week +0.83%). The Nasdaq Technology Index (US100) added 0.92% (up +3.10% for the week). The S&P 500 and Nasdaq indices set new record highs on Friday, helped […]
Gold Forecast: Gold Continues To See Supporters
During my daily analysis of the gold market, the first thing that has caught my attention is that despite the fact that the gold market plunged overnight, there is most certainly quite a bit of support just below as we have seen over the last 2 weeks. In fact, one is interesting to me is […]
WTI Crude Oil’s Seasonal Strength Meets OPEC+ Challenges
WTI Crude Oil demonstrates a compelling seasonal pattern between December and early March, historically yielding an annualized return of +39.26% over the last 25 years. The average gain of +7.85% during this period, coupled with a 72% win rate, highlights the winter season as a favorable window for oil price appreciation. Seasonal demand dynamics, particularly […]
AUD/USD Price Forecast: Bullish Reversal Move Looks Likely
AUD/USD jumps to near 0.6420 with investors focusing on the RBA monetary policy announcement on Tuesday. The RBA is expected to leave interest rates steady at 4.35%. Investors expect the Fed to cut its key borrowing rates next week by 25 bps to 4.25%-4.50%. The AUD/USD pair finds temporary support and advances to near 0.6420 […]
Sensex Today Trades Marginally Lower; Nifty Below 24,700
Asian stocks were poised for a mixed opening on Monday as traders grappled with continued political upheaval in South Korea and awaited signs of fresh stimulus from Beijing. Oil was steady after the Syrian government was toppled.The S&P 500 and Nasdaq Composite rose to fresh records on Friday after November jobs data came in slightly […]
FX Daily: Little Reason To Leave The Dollar Now
Image Source: Unsplash After a brief sell-off on Friday’s US jobs report, the dollar has returned bid. Helping that trend is geopolitics (Korean markets remain unsettled) and a view that central bankers in trading partners will win the race to cut rates to neutral. Here we have rate meetings in the eurozone, Canada and Switzerland, with 25bp or 50bp […]
Oil Prices Rise Amid Middle East Tensions, But Weak Demand Caps Gains
Image Source: Unsplash Oil prices were in the green as tensions in the Middle East grew after the fall of the Syrian President’s regime. OPEC’s steep production highlighted weak demand worldwide, which limited gains in prices on Monday. Rigs deployed for oil and gas in the US rose sharply last week to hit its highest […]
