Major indexes continue to show resilience to inflation and rate rises as many have pushed up into new all time highs. Traders have been faced with many ups and downs making investing difficult and share positions constantly flow from gains to losses and back again. We always need to focus and review the bigger picture timeframes to build into our overall trading...
Major indexes in the US were weaker as Debt ceiling concern weighs on bulls. European markets ended the week in the green while Asian markets were mixed. Traders will be closely watching news for some sort of agreement on the US debt ceiling once Congress finishes playing politics. For now, I expect a tentative Asian market open and for major risk to remain on the...
Looks bullish, but traders are still going to need a push to get past that bearish gap and step in to go long.
CAPITALCOM:COPPER at 618 fibonacci support, if breaks it will be very bearish for the markets.
Major indexes in the US and Europe come under fire on concerns for a global economic slowdown and the US debt ceiling fiasco. Traders went risk off as retail sales pointed to a slowdown in consumer spending while uncertainty over interest rates also weighed on sentiment. I expect that the same theme will weigh on the share markets today and into the coming...
European and US markets edge higher to end with minor gains after a solid Asian session to start the week. US bulls are remaining on the sidelines for now as the Government once again argue over raising the debt ceiling. Economic data came out weaker than expected in the US again pointing to a slowing economy which I feel will be longer term negative for the share...
XCUUSD - 24he expiry - We look to Sell at 3.828 (stop at 3.868) Our bespoke support of 3.820 has been clearly broken. Our short term bias remains negative. Previous support, now becomes resistance at 3.820. Preferred trade is to sell into rallies. We look for a temporary move higher. A lower correction is expected. Our profit targets will be 3.728 and 3.708...
Like last June, Copper setting up for a free fall to area of Point C around 680. This area is a thin volume area and likely to offer very little support, and would represent 6.72% further drop from today's close of 729.
Markets came under pressure again on concern of an economic slowdown. Europe was hit lower with the DAX and FTSE100 looking weak. US data out weighed on the US open to pressure key indexes lower although tech and the Nasdaq remain relatively strong. US data out was mixed with unemployment claims higher and PPI showing strength. The uncertainty sent USD higher and...
Markets came under pressure in European and US trade although there remains some bulls happy to provide support to big tech and the Nasdaq. US inflationary CPI data came out relatively inline with expectations which, to me, highlight the continued 'sticky inflation' concerns. The US futures initially reacted higher to trap some buyers into the US open but then the...
The Nasdaq made a new 52 week high. can we officially say we entered a new bull market?
Copper is trading inside a Channel Down pattern that is approaching the bottom of a Rising Megaphone pattern. The price is almost neutral (RSI = 44.491, MACD = -0.036, ADX = 22.406), stuck between the 1D MA50 and 1D MA200. As the RSI is on the S1 Zone as well, the conditions for a longterm buy are pilling up. First we target the Channel Down top (TP = 4.1000) and...
European and US markets were relatively tame as traders focus now turns to the CPI data release ahead of the US open Wednesday. The USD found support to move up while Copper and Oil also moved higher on expectations for a lift in demand. Gold edged higher although is showing signs of selling pressure. Expecting a flat open for Asian markets as the Nikkei, ASX200...
Stronger than expected employment data in the US sent bulls into a frenzy and pushed share markets higher into the weekend as recession fears eased. On the flip side, a resilient economy will flow over into inflation and mean that inflation will stay higher for longer and put further upside pressure on interest rates. US Bond yields spiked as to did the USD while...
US indexes again came under pressure after European Indexes went lower for the session. Concerns over US regional banks and contagion into the banking sector weighed heavily on the US open. The ECB raised rates by 25 basis points as expected to follow in the footsteps of the US Fed Reserve and the RBA. Traders may be more contained today ahead of the key US...
MID TERM LONG The price of copper has made some headway after falling to its lowest level since November 2020 on 15 July 2022. The metal started 2023 at $3.84 and has risen 6.7% to trade at around $4.10 as of the time of writing on 14 April, although base metal prices have retreated significantly since the record highs seen in March last year. Metals markets...
Major Indexes in Europe and the US came under pressure as traders went risk off. New banking concerns for the US weighed on the action along with worse than expected economic data. Traders will be focused now on the FOMC rate statement to see what the Fed has to say about inflation. Expectations are that the Fed will raise rates 0.25% and potentially signal one...