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US natural gas prices have formed a head and shoulders top pattern, which may signal a weakening of the current major bullish trend and a subsequent reversal into a bearish one. The left shoulder coincided with the relative highs at the end of July at $9.30/MMbtu, a level that was then followed by a pullback to $7.53 (August 8) prior to the beginning of a new...

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The Nasdaq 100 index ( US 100 ) has moved in the opposite direction of US real yields ( DFII10 ), which are the difference between nominal Treasury yields and market-based inflation expectations (also known as Breakeven yields). Real yields serve as a measure of the Fed's rate tightening aggressiveness. The 30-day correlation between Nasdaq 100 and US real yields...

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Recent moves in the EUR/USD exchange rate have been driven primarily by the price differential between natural gas in the United States and Europe, rather than by the ECB's historic rate hike last week. Over the last 90 days, the correlation coefficient between EUR/USD and US-EU gas price differentials is 0.88, indicating a very strong relationship between the...

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What a day for silver ! Spot silver went up more than 5% to $19.7 per troy ounce in one of the best sessions this year, hitting the highest levels since August 18. Silver's daily price action broke through both the 50-day moving average and the 2022 bearish trend line connecting the lower highs of April and August. Momentum indicators show the daily RSI...

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The daily palladium chart shows some interesting technical developments. On September 8, the price action saw a 4.5% daily gain, which broke both the 50-day and 200-day moving averages. Previously, the same breakouts also occurred on July 7 and 8, but in two separate sessions. With the September 6 lows, a short-term bullish channel may have formed, supporting...

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The dollar-franc pair ( USD/CHF ) is recording its third straight day of losses, and is about to form a "three black crows" pattern, which is characterized by three consecutive bearish red candlesticks with lower highs and lower lows. A three black crows pattern typically indicates a bull trend reversal and a shift in trader sentiment. This pattern formation on ...