iknonuts

iknonuts

Heavy resistance at 2979 yesterday and overnight inventory has been mostly short... I believe markets may want to test 293x region today looking at how XAUUSD is holding up pretty well

iknonuts

Current resistance for oil is currently at its 0.382 fibonacci retracement (from '14 highs to '16 lows) but it is pretty conducive for a sustained uptrend move now that it has achieved a higher low AND higher absorption volume. However I think oil will be stucked trading at the $50-$70 range for now due to the lack of interim catalysts to drive oil prices higher...

iknonuts

Gold broke out of its 5-year high all thanks to a slowing economy, trade uncertainty and a much wilder geopolitical landscape. It is not everyday that we get to see bonds, gold and equities rallying at the same time. But with a fairly positive outcome from the G20, I expect gold to see near-term weakness and could attempt to test the resistance (upper line of the...

iknonuts

Good G20 outcome and nice technicals suggest bull market is still in good shape. Only near term risk I am seeing is the Fed not cutting rates in accordance with market expectations since Emerging Markets and global trade were previously hurt by a strong dollar. While the dovish Fedspeak has already put the wheel into motion for a lower dollar, the Fed needs to...