Crude oil market took a huge drop last night as the Biden Admin is set to release a huge SPR release into the markets. 180 million barrels over a 6 month period to help alleviate oil prices at the pumps for Americans. Fundamentally, speaking, this news has a short term affect of dropping oil prices lower, but as the reserve is depleted, they will just need to...
After taking a large tumble below 1900 on positive risk news, the gold market is slowly grinding back up. We have reclaimed the 1930 handles in gold and approaching a short term resistance there. As we enter the NA trading session, any further dollar weakness or negative sentiment and we can easily break higher moving towards the 1938, 1950 or 1964 level.
After taking a large tumble yesterday, the dollar index fell across the board against all major currencies and settle into key support at 97.71. This as establish a broad trading range for the dollar index which starts at 97.70 to 99.36. We believe that this range in the dollar index is likely to hold as we approach payrolls release tomorrow. Therefore, scalping...
The bond market catch a bounce to our resistance point during the previous trading session to settle into the 123.20 area. As we get close to the Payrolls Number from Friday, one of two things is likely to happen: remain neutral or priced in bias. The day before the payrolls release usually will be a strong tell tale sign from the bond market as to what those...
As we expected yesterday, the market pulled back right into out support level at 4585 and swiftly bounced back. Currently trading around 4600 range, we expect this bull run in the stock market has more room to go to the upside. The weekly highs 4635 will serve as our first resistance test. If we manage to break out from there than its likely to find new resistance...
The gold market took a tumble on positive risk sentiment yesterday only to bounce at a key support level of 1895. As we speak, gold has already retraced back up into the 1925 level. With market condition as is and a weak dollar today, we feel that this a good opportunity to load up on some gold positions. Key levels to watch for to the upside can be found at 1930,...
The dollar took a tumble yesterday as we got positive sentiment towards Russian/Ukraine war. After gaining a bounce in yesterdays trading session, we are now seeing further selloff in the dollar index ahead of some key data points. This selloff also broke our short term bull wedge to the downside and therefore its likely to run a bit further before more buying...
The 2-10 year spread inverted for the first time since 2019 and is suggesting a recession is imminent. The 10 year treasury note catch a bounce back to the 123.12 level in the overnight trading session and has since pulled back from resistance. With a slew of data being released this morning, its hard to pin point which direction the bond market wants to trade in,...
After catching a lift on positive news sentiment yesterday and closing at highs, we believe there is more room to run higher for the stock market. The technicals suggest that as the market consolidates at this new price level its likely to continue to run higher towards targets at 4670. However, today is heavy in terms of event risk and therefore volatility is...
The bitcoin bull market is on as we attempt to break a key moving average resistance at the 48k handle. Considering that the risk sentiment is positive, its extremely likely that 48k will give way and the market begins to test out the 50k area. Also interesting to note, that as Q1 of 2022 wraps up in a few days, we are currently trading positive for the year after...
After going on a wild ride yesterday with heighten volatility to the downside, it seems as though the oil market is not done selling off. Positive risk tone around the war has help crude oil to further drop lower while breaking some key supports. As of now, the momentum in the oil market could take us back to the March 16 lows of around $93. We clearly need to see...
The gold market nose dive on news of cease fire from Russia/Ukraine. Moves like this usually suggests there is a kneejerk reaction and are likely to bounce back higher. However, before we do that we will need to see signs of the market bottoming out and developing value. There is further support for gold at 1900 handle and 1895. If this sell off is real, both of...
The positive news around the cease fire between Russia/Ukraine is helping to weigh in on risk sentiment, allowing for the market to adjust accordingly. The US dollar took a tumble on the positive news and settled right into our trendline. This is a great buy the dip opportunity, however, we believe an additional squeeze in the dixie is likely to take place in the...
The bond pushes forward with its slide lower as we settle at the 2.5% mark on the yield and look to the next levels. Currently 2.75 and 3% seem to be the ideal targets that bond traders are gunning for. The follow yield levels on the bond prices would be at 120.8 or 117.80 respectively.
The stock market caught an incredible rally over the last few trading sessions and as we got closer to a key resistance level at 4600, news of a cease fire between Russia/Ukraine is further helping the rally take off. As of now we have pretty much retraced about 75% of the lost incurred in the first quarter of 2022 and will likely to trend higher, possible...
The first quarter of the 2021 selloff and sideways trading range is over. Bitcoin finally broke the 45k handle and is now trading in the 45k handle. This is significant because the price held high over the last 24 hours and suggests that there is likely going to be more upside in bitcoin and cryptocurrencies for the week to come. Bitcoin is currently sitting at a...
Crude oil prices fell overnight into the 107 mark, which also happens to be the 100D MA on the one hour chart. At the current movement, traders are battling short term price action with longer term fundamental. Short term, if we dont hold this support than its likely that crude oil could drop further into the 104.75 or 102 level. However, considering that the...
Gold market pull back into a point of control and value area in the overnight trading session. As of this writing we are currently sitting at the 1930 level. With the fundamentals in the overall market looking shaky, we believe any meaningful pullback in gold prices should be viewed as a buy the dip opportunity. Resistance targets for the dip buyers can be found...