The dollar index is trading back the top of the range of our bull wedge and appears to be on the cusp of breaking out higher. The resistance at 99.30 is likely going to give way to the dollar index as it tries to move towards the 100 handle. With the technical aligning and the fundamentals aligning, we believe that its highly likely these levels will be taken out...
The bond market made another new lower low in the overnight trading session. Its becoming clear to bond market participants that the FED and central bankers around the way are serious about fighting inflation. As of now, the yields on the 10 year hit 2.56% overnight and is likely going to continue to go this way until something breaks. Next target for the bond...
As we enter the new trading week, the sp500 futures made a new overnight high to continue last weeks bull run. The new series of higher highs in the last few trading session is pushing to levels not seen since January and February. Currently we are looking to move and retest a fib level at 4585 resistance. However, if we cannot get there today, then the market...
Bitcoin has been on a slow grind this week, taking out one handle a day. Can we continue that trend today? The chart certainly looks like it, however, we have to mention that we are expecting one last shakeout before the price sky rockets to the moon. We anticipate the price to pull back into the low 40k range one last time before breaking that 45k handle and...
After peaking off at the 115 handle, the black gold has taken a break from the rally. Currently pulling back into the 100 day moving average on the 4 hour chart, we are finding some support here, although the support is looking weak. If we get a break below the current price of 109.70, we are likely going to be headed towards 107.15. This price is a fib level and...
Gold gave the buyers another opportunity to get into the trade has it pulled back into 1950 range, hitting the 50 day moving average. As the current political and market environment remains the same, we believe that this is a great chance to get back into the trade as gold trends towards the 2k handle. Levels and targets to the upside for daily trades on gold can...
Dollar remains strong in the forex market as it has been consolidating at the 97.70 - 99.40 range. This zone is also forming a technical bull wedge pattern that we feel aligns with the fundamentals which suggest the dollar should be trading higher. As such, we have been buying dollars on pull backs. Watch out for the fib levels within the range mentioned, as there...
FED members have been hard at work this week reiterating to the markets their stance on interest rates. As a result the bond market has been selling off quite a bit, bottoming out the 122.65 level. We believe that this bottom will hold for now and that a bounce is likely to happen going into the Friday close. As a result, we will be looking for short target to the...
The sp500 surprise us this morning as it rallied and made a new daily high, despite closing lower yesterday. This slow grind higher in the sp500 looks like its losing momentum to the upside, although we believe another daily pop higher is likely in the NA trading session. With that being said, we will be looking to fade the rally going into the Friday close. We...
Bitcoin has reclaimed the 43k handle as it follows the weekly trendline higher. At this point, the clear target for bitcoin is 45k to the upside or a break of that weekly trendline, whichever happens first. If we are unable to retest the 45k handle than its likely we are to dip back below to one of the levels in the fibs. Those levels can be founded at 42k, 41k...
Oils technical analysis has created a perfect inverse head and shoulder set up with the neckline right at 115 mark. Its also important to note that this neckline was the price where we got the gap up back during the March 6 oil rally. With the current mark condition as is and nothing changing fundamentally, we believe that its only a matter of time before crude...
Gold broke the 1950 mark in early morning trading and is continue to rally with momentum! With no upside resistance on gold until we hit some fib levels to the upside, we believe that there is more to come for gold. Watch out for upside targets at 1964, 1985 and the 2000 handle as clear areas of resistance.
We mentioned multiple times this week that the dollar index was likely to see some tailwinds as the current market environment for rates and inflation just favors the dollar. For this entire week, we have bottome out at the 98 handle and have steadily trended higher towards the 99 mark. We are currently only 20 points away from that target. And with the TA setting...
After creating a new low at the 129.92 area yesterday we are currently trying to retest that level again. With the current market sentiment looking towards risk off, its highly likely that this will be the bottom of bond market for today as we try to hold these levels to rotate back up. Watch out for resistance at the fib levels to the upside at 124.25, 125 handle...
The tremendous run in the SP500 for the month of March looks to be stalling out after steady gains in the previous trading session and hitting the 4500 mark. Now as we enter the North American trading session, it looks as if the bulls have run out of gas to keep this thing going higher. Watch out for levels to the downside as sellers look to reclaim this market by...
Bitcoin has developed a small up trend as we being to grind higher towards the 45k area. This trendline is acting as support for dip buyers to come in and scoop up bitcoin as the market begins to capitulate in this price zone. Until something changes fundamentally or technically, we are sticking to our call that a retest and break of 45k area is likely to take place.
Oil found hard resistance at the 113.50 area and pulled back to 107.50 in the last trading session. This large drop in the price gave dip buyers a chance to get into the market as the crude oil market has coiled back up and looks to be headed towards retesting 113.50. Next resistance after that can be found at 114.87 and 122.
After trading sideways for this entire week, we feel that gold is ready to make the next move higher. The moving averages have us capping resistance at 1930 and 1940 mark. Both of which, when taken out will likely to gold into the 1950 to 2k range. With the fundamentals in the markets suggesting that safe haven buying is likely needed in the coming weeks, we feel...