The price of oil seems to be tracking the positive slope in the 50-Day SMA ($77.50) as it reverses ahead of the moving average.
Crude Oil Outlook
The price of oil may extend the three-day rally as it carves a series of higher highs and lows, with a breach above the monthly high ($84.89) bringing $87.30 (78.6% Fibonacci retracement) on the radar.
Next area of...
AUD/JPY appears to be breaking out of the descending channel from earlier this year as it attempts to trade above the 50-Day SMA (94.65).
AUD/JPY Rate Outlook
AUD/JPY registers a fresh weekly high (95.06) as it carves a series of higher highs and lows, and the exchange rate may attempt to retrace the decline from the monthly high (95.81) if it continues to...
The price of gold trades back above the 50-Day SMA ($1930) as it extends the advance from the start of the week, but bullion may track the negative slope in the moving average should it respond to channel resistance.
Gold Price Outlook
The price of gold may continue to retrace the decline from the monthly high ($1966) following the failed attempts to close...
BTC/USD consolidates after registering a fresh monthly low ($25377) last week, with the recent rebound in price pulling the Relative Strength Index (RSI) out of oversold territory.
BTC/USD Outlook
Keep in mind, BTC/USD snapped the upward trend from earlier this year after failing to defend the opening range for August, with a breach below the June low ($24763)...
The S&P 500 rebounded off confluent support last week at 4343 and the focus is on this recovery within the confines of the July downtrend. the post-Nvidia earnings gap was quickly filled today with Jackson Hole on tap. . .
Initial resistance eyed at 4471 backed closely by 4503 - rallies should be limited to this threshold IF price is heading lower here....
The #NVDA rally halted at the July highs yesterday with all eyes now on today's earnings release.
Initial Support 456 backed by the August 5th reversal close at 439 - look for support there IF price is heading higher on this stretch. Broader bullish invalidation now raised to 406 .
A breach / close above 480 exposes subsequent resistance objectives at the...
#Silver rebounded off confluent technical support last week at the 2021 low-week close / 52-week moving average. The immediate focus remains on a breakout of the 22.36-24.59 range for guidance here.
Ultimately a breach / close above the 2023/2022 high-week closes at 25.67/86 is needed to mark resumption of the broader uptrend.
Break below this key support...
The Dollar Index is testing a major resistance confluence here at 103.47/50 - a region defined by the 61.8% retracement of the yearly range and the objective 2023 yearly open. Note that March Trendline now converges on this threshold as well. . . Looking for a reaction here.
Initial suport now 102.71
A topside breach from here exposes the May high-day close...
BTC/USD threatens the upward trend from earlier this year as it tumbles to a fresh monthly low ($27692).
BTC/USD Outlook
BTC/USD fails to defend the opening range for August as it extends the series of lower highs and lows from earlier this week, and Bitcoin may no longer respond to the positive slope in the 50-Day SMA ($29267) as it no longer holds above the...
Gold has given up earlier gains of around 0.6% and some, to hit its lowest since March below $1890. Rising government bond yields continue to increase the opportunity cost of holding low- and zero-yielding assets, such as gold, silver and yen.
As well as rising bond yields and US dollar, you have concerns about demand from China where the economy is evidently at a...
The price of oil carves a series of lower highs and lows after registering a fresh yearly high ($84.89) earlier this month, with the recent weakness in crude sending the Relative Strength Index (RSI) below 70 to generate a textbook sell-signal.
Crude Oil Outlook
The price of oil appears to be on track to test the monthly low ($78.69) as it falls for the third...
The S&P500 index trades below the 50-Day SMA (4455) for the first time since March as it extends the decline from the start of the month.
S&P500 Index Outlook
A near-term correction appears to be unfolding in the S&P500 after it failed to test the yearly high (4607) earlier this month, and the index may fall towards the July low (4376) if it no longer responds...
The tech-heavy Nasdaq was unable to hold onto the gains made on Monday, joining a global stock market rout. Sentiment has been hurt by weak Chinese data, rising bond yields and valuation concerns, while the lack of fresh bullish catalysts is also discouraging the bulls to buy this latest dip. China’s central bank has cut interest rates but so far this has not...
The price of gold appears to be on track to test the June low ($1893) as it extends the series of lower highs and lows from last week.
Gold Price Outlook
The price of gold seems to be tracking the negative slope in the 50-Day SMA ($1941) as it registers a fresh monthly low ($1903), and failure to defend the June low ($1893) may push the Relative Strength Index...
EUR/JPY approaches the September 2008 high (159.61) as it stages a four-day rally.
EUR/JPY Rate Outlook
EUR/JPY bounces back ahead of the monthly low (155.54) to clear the July high (158.05), with the exchange rate climbing to a fresh yearly high as it carves a series of higher highs and lows.
A breach above the September 2008 high (159.61) may push EUR/JPY...
The price of oil clears the April high ($83.53) to push the Relative Strength Index (RSI) towards overbought territory.
Crude Oil Outlook
The price of oil clears the opening range for August to register a fresh yearly high ($84.65), and a move above 70 in the RSI is likely to be accompanied by a further rise in crude like the price action from last month.
A...
BTC/USD appears to be breaking out of the range-bound price action carried over from last week following the failed attempts to close below the 50-Day SMA ($28923).
BTC/USD Outlook
BTC/USD seems to be defending the monthly low ($28598) as it trades back above the $29140 (38.2% Fibonacci extension) region, and Bitcoin may track the positive slope in the moving...
AUD/JPY remains confined within a descending channel as it no longer responds to the positive slope in the 50-Day SMA (94.71), but the exchange rate may attempt to retrace the decline from the start of the month as it halts a four-day selloff.
AUD/JPY Rate Outlook
AUD/JPY seems to be reversing ahead of channel support as it snaps the series of lower highs and...
