Gold broke down on Friday as stocks rallied on the back of the much-stronger US nonfarm jobs report, which further fuelled optimism about the recovery. The dollar index closed higher, ending a run of losses. However, at the start of this week, the precious metal has started higher again on the back of a mixed […]
Gold testing resistance Read More »
The Cable continues to show constructive price action as the dollar continues to weaken on reduced haven flows. Similar price action has been observable on the other major pairs with the EUR/USD breaking higher and USD/CAD lower etc. Have a look at this chart of the cable: The GBP/USD has now broken it bearish trend
GBP/USD heading to +1.26? Read More »
After its vicious falls during the height of the coronavirus pandemic, silver’s recovery has been remarkable. Demand concerns were initially replaced by supply worries, causing prices to bounce back, before the rally took hold on easing of lockdown measures alleviating some of these concerns. Giving silver an additional boost has been the actions of governments
[Video] Silver heading to $19? Read More »
Gold has been stuck in an ugly range for several weeks now. But more recently, the pressure has been growing for a downside breakdown as stocks surged on lockdown easing hopes and amid central bank support. Today, the metal was testing a key support level, and traders were wondering whether support will hold given the
Will gold hold THIS pivotal level? Read More »
The risk-sensitive AUD/JPY turned lower from a key resistance range in overnight trading, mirroring the price action on Wall Street where US stock indices gave up earlier gains to close at their lows Tuesday evening. The AUD/JPY has now for the second time in as many weeks failed to break thru the prior long-term support
AUD/JPY hits key resistance Read More »
Thanks to record low rates and QE, not to mention increased haven demand, gold has managed to retain most of its recent gains. And now it may have formed a key technical signal that it wants to break new 2020 highs. Take a look at this daily chart of gold: On Thursday, gold may have
GOLD creates THIS bull signal ahead of NFP Read More »
Last week all the major indices created inverted hammer candles like this on the S&P 500: If you look at Nasdaq, DAX, Russell you will see similar setups. So, IF those were the bearish reversal candles and after this week’s bounce back into resistance range, then we should be looking for bearish setups. The SPX
S&P at potential resistance after last week’s inverted hammer Read More »
Thanks to the actions of governments and central banks in response to coronavirus outbreak, investors have been piling into equities over the past several weeks despite the global economy being in a standstill. The rebound has been remarkable. The big question is what’s going to happen next: a continuation higher (to a new all-time high?)
[Video] S&P 500 arrives at KEY technical area after strong recovery Read More »
Crude oil prices jumped 5% at the Asian open then fell around 2-3% in the immediate reaction to the OPEC+’s historic decision to cut oil output by 9.7 million barrels a day, just shy of the initial proposal of 10 million bpd. Though the reaction hasn’t been great, I think crude prices will likely climb
Crude oil likely bottomed amid OPEC+ historic deal Read More »
Here is my latest analysis on gold – sorry about the background/kids noise, working from home!
[Video] Gold heading to $1703? Read More »
