GhostSquawk

GhostSquawk

The gold market took a huge tumble is it fell through the 1925-1935 range towards the low 1900's handle. As we speak we are just a few dollar shy of 1900. If this level gives away, our next target to the downside would be the late march low of 1890. Any further below here and we would effectively being to retrace the entire war narrative. Something we feel...

GhostSquawk

After rallying to break the 101.70 mark, we are begin to see the early stages of a daily pull back in the dollar index. As we enter the NA trading session, the dollar peak off at 101.70 and is starting to get offers coming in to push the price lower. The next logical support level can be found at 101.35. Further weakness could take us all the way towards 101...

GhostSquawk

The market for the 10 year treasury notes has seen to bottom out for now as we are getting come clear bids coming through in the market. As we speak, the market has bounce off of 118.770 and appears to be testing the 120 handle to the upside. Further resistance can be found at 120.25 and 121 if we could get more buying momentum coming in. If not, we will likely to...

GhostSquawk

The Sp500 took another tumble in the futures market as the overnight opening saw further selloff. However, its important to note that it was low liquidity and that when real volume comes through, that scenario could change quickly. As of now, there is support at 4190, or the lowest point traded since mid March. A break of this this level would be very significant...

GhostSquawk

Bitcoin created a bull trap scenario and got everyone into the markets thinking we would begin to make a move higher once it broke the 42-43k handle, however, that wasnt the case and yesterdays late day selloff caught a lot of people off guard. Bull were screwed when the price quickly dropped back down and many were liquidated. As we speak, the market is trading...

GhostSquawk

The crude oil market has been stuck in the 103 consolidation range all week and unable to find any meaning direction just yet. As of now, a break of 102 to the downside and we will likely be testing the 100 handle. If we get a break to the upside of 104 than we will likely be testing the 106, possibly 108 resistance level to the upside.

GhostSquawk

Gold finally cracked our trendline to trade lower in the 1935 range. As we have mentioned all week, if that trendline didnt hold than we are likely to move lower towards the next POC range which was around 1925-1935. Its likely that gold would maintain a neutral status and likely continue to consolidate around this range further before we establish any meaning...

GhostSquawk

The dollar index saw a swift bounce in the last few trading session only to bring it back to the 101 handle. As we speak, the technical setup in the dollar index suggest a rising bull wedge, which is likely to break out further. This is likely to happen has the fundamentals in the global markets suggest that demand for dollar due to war risk, inflation risk,...

GhostSquawk

Powell's message from yesterdays meeting was received by the markets load and clear; 50 bips is coming at the next meeting. This forward guidance by the FED has been the primary driver of higher yields in the markets over the last several weeks. Now that we are sitting at 3% on the 10 year treasury yield and still having not bottomed out, we are likely to test the...

GhostSquawk

As we enter the last trading day of the week, the stock market has pulled all the way back to the weekly lows and have found some support before the NA trading session. With the momentum from yesterdays selloff still lingering around, its looking increasingly likely that the 4355 support level will give away to the bears as sentiment turns sour. Any rallies in...

GhostSquawk

Bitcoin was able to reclaim the 42k handle in the overnight trading session. As we enter the NA trading session, additional momentum in cryptos market could takes us towards the lower range of the 44.5k handle or maybe even towards the upper range of at 45.5k handle. Risk sentiment in the market suggest that there is likely to be further momemtum to the upside....

GhostSquawk

As we speak, the gold market has made a new overnight low by breaking the lows establish yesterday at 1940. However, this breakout is meet with resitance as buyers are piling back into gold to defend the 1940 zone. If buyers are successful in defending this level than we will likely see gold trading back towards the 1950 and 1960 levels. If we buyers are not...

GhostSquawk

After a tremendous run that took the dollar index above the 101 level, we are starting to see a strong pull back being developed as profit takers begin to exit the dollar long trade. As of now, we bottomed out at 99.8 and have bounced back to reclaim the 100 handle. However, the series of lower lows in the chart suggest to us that further downside pressure and...

GhostSquawk

The 10 year treasury note saw a small bounce after nearly hitting 3% on the yields. Since then we only recover a few points and began to establish a sideway trading range at 120.3 and 118.78. As of now those are the key levels to watch in the bond market as this market decides to take a breather from the most recent selloff.

GhostSquawk

The sp500 made another move higher in the overnight trading session but momentum seems to be falling off. Although it does appear that a further move to the upside towards the next resistance at 4530 is likely, however, that zone will serve a key area for stocks today. If we are able to muster a break above that zone than we are going to try to test the next level...

GhostSquawk

Bitcoin is sharing the overall market sentiment as it turns positive with everything else. After breaking the 41.5k range and now trading in the 42k handle, we can see further upside movement in bitcoin and the crypto market. Our next key target for bitcoin will be at the 44.5k - 45.5k range. Depending on the strength of this rally, it made take 24-48 hours for us...

GhostSquawk

Crude oil market has been consolidating around 103 after the pull back from its huge run. From here, it could go either way. However, the morning risk sentiment in the overall market suggest to us that its likely to go up rather than down. Upside levels for crude oil can be found at 104.75, 106.15 and 109. If the market decides it wants to reverse than we will be...

GhostSquawk

After reversing from the 2k handle, gold continues to fall further, landing at a trendline. As of now, we are seeing a bounce from this trendline, however, there is a POC underneath it and gold will likely try to get back into that zone around 1925-1935 if the trendline does not hold. As the risk sentiment in the market turns positive, the probability of a further...