Market analysis from Trade Nation
Trend Overview: Brent Crude Oil remains in a bullish trend, characterised by higher highs and higher lows. The recent intraday price action is forming a continuation consolidation pattern, suggesting a potential pause before a renewed move higher. Key Technical Levels: Support: 6620 (primary pivot), followed by 6530 and 6440 Resistance: 6900 (initial), then...
Trend Overview: WTI Crude Oil remains in a bullish trend, characterised by higher highs and higher lows. The recent intraday price action is forming a continuation consolidation pattern, suggesting a potential pause before a renewed move higher. Key Technical Levels: Support: 6380 (primary pivot), followed by 6320 and 6250 Resistance: 6650 (initial), then 6740...
Key Support and Resistance Levels Resistance Level 1: 7890 Resistance Level 2: 7970 Resistance Level 3: 8070 Support Level 1: 7700 Support Level 2: 7620 Support Level 3: 7510 This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not...
Overall trend remains bullish, supported by rising price action. Recent Movement: Price is in a sideways consolidation phase after a strong uptrend. Key Levels Support: 8760 – Key level from prior consolidation. 8680, then 8640 – Next supports if 8680 breaks. Resistance: 8830 – First upside target. 8930, then 9000 – Further resistance levels on continued...
Economic Data Releases: United States: May CPI (Consumer Price Index): Key inflation gauge. Market watchers will scrutinize headline and core inflation figures for Fed policy implications. Federal Budget Balance (May): Indicates monthly fiscal deficit/surplus; relevant for fiscal health and debt trajectory. Japan: May PPI (Producer Price Index): Tracks...
Trend Overview: LTC/USD remains in a bullish trend, characterized by higher highs and higher lows. The recent intraday price action is forming a continuation consolidation pattern, suggesting a potential pause before a renewed move higher. Key Technical Levels: Support: 865 (primary pivot), followed by 845 and 820 Resistance: 956 (initial), then 1000 and...
Trend Overview: ETH/USD) remains in a bullish trend, characterized by higher highs and higher lows. The recent intraday price action is forming a continuation consolidation pattern, suggesting a potential pause before a renewed move higher. Key Technical Levels: Support: 2514 (primary pivot), followed by 2356 and 2220 Resistance: 2940 (initial), then 3000 and...
Trend Overview: Bitcoin (BTC/USD) remains in a bullish trend, characterised by higher highs and higher lows. The recent intraday price action is forming a continuation consolidation pattern, suggesting a potential pause before a renewed move higher. Key Technical Levels: Support: 103,330 (primary pivot), followed by 100,680 and 97,700 Resistance: 113,040...
Key Support and Resistance Levels Resistance Level 1: 43190 Resistance Level 2: 43620 Resistance Level 3: 44290 Support Level 1: 42100 Support Level 2: 41420 Support Level 3: 40990 This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is...
Key Support and Resistance Levels Resistance Level 1: 6120 Resistance Level 2: 6170 Resistance Level 3: 6220 Support Level 1: 5960 Support Level 2: 5900 Support Level 3: 5800 This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not...
Trend: Bearish Current Move: Oversold bounce toward resistance Key Resistance: 1.7645 – Prior consolidation zone Key Supports: 1.7400 – Immediate support 1.7273 – Secondary support 1.7120 – Longer-term target Scenario 1 – Bearish Continuation: If price fails to break above 1.7645 and shows rejection (e.g. bearish candlestick pattern), expect a move lower...
The pair is in a bearish trend, with recent price action showing a bounce (oversold rally) that was rejected near 0.9430, a key resistance level from previous consolidation. This rejection suggests sellers are still in control. Key Levels to Watch: Resistance: 0.9430 (key level), then 0.9500 and 0.9600 if broken. Support: 0.9155, followed by 0.9100 and...
Trend Overview: EUR/USD continues to exhibit a bullish price structure, supported by a rising trendline and higher lows. Recent intraday action reflects a corrective pullback, suggesting a temporary pause within the broader uptrend. Key Technical Levels: Support: 1.1300 (primary), followed by 1.1235 and 1.1180 Resistance: 1.1430 (initial), then 1.1470 and...
Trend Overview: The DAX Index remains in a bullish trend, supported by a series of higher highs and higher lows. The broader structure continues to favour the upside, although recent intraday price action suggests a sideways consolidation, signalling a potential pause within the prevailing uptrend. Key Support and Resistance Levels: Support: 23680 (key pivot),...
Market Watch – Tuesday, June 10 (Technical Focus) Key Data Releases (Potential Volatility Triggers): US NFIB Small Business Optimism (May) – Watch for shifts in sentiment that could influence the USD and S&P 500 direction. 3-Year Note Auction – Yields could impact Treasury curve dynamics; monitor for demand strength or weakness. UK Average Weekly Earnings...
Trend: Overall trend remains bullish, supported by rising price action. Recent Movement: Price is in a sideways consolidation phase after a strong uptrend. Key Levels Support: 5310 – Key level from prior consolidation. 5275, then 5230 – Next supports if 5310 breaks. Resistance: 5480 – First upside target. 5510, then 5565 – Further resistance levels on...
🇺🇸 United States NY Fed 1-Year Inflation Expectations: Rose slightly to 3.1% in May from 3.0% in April. This suggests increasing consumer concerns about short-term inflation, potentially influencing Fed policy. Wholesale Trade Sales (April): Awaiting data. 🇨🇳 China May CPI: Up 0.3% YoY, but fell 0.1% MoM — indicating weak consumer demand. May PPI: Fell 1.4%...
The GBP/USD currency pair maintains a bullish sentiment, supported by a rising trendline and sustained higher lows. The recent intraday price action suggests a corrective pullback within an overall uptrend, indicative of a consolidation phase rather than a reversal. Key Support Level: 1.3500 This level aligns with a previous consolidation zone and is acting as a...