Market analysis from Trade Nation
The COPPER price action sentiment appears bullish, supported by the longer-term prevailing uptrend. The recent intraday price action appears to be a corrective pullback towards the previous consolidation price range and also the rising support trendline zone. The key trading level is at the 9260 level, the previous consolidation price range and also the rising...
The ALUMINIUM price action sentiment appears bullish, supported by the longer-term prevailing uptrend. The recent intraday price action appears to be a sideways consolidation bullish flag pattern. The key trading level is at the 2593 level, the previous consolidation price range and also the 50 Day Moving Average zone. A corrective pullback from the current...
The AUDJPY currency pair price action sentiment appears bearish, supported by the longer-term prevailing downtrend. The recent oversold bounceback is retesting major resistance at 97.30. The key trading level is at 97.30, which is the current swing high, 50 Day Moving Average and previous support now newly formed resistance. An oversold rally from the current...
The GBPAUD currency pair price action sentiment appears bearish, supported by the longer-term prevailing downtrend. The key trading level is at 2.010, which is the current swing high from Monday 03rd February’25. A bearish rejection from the 2.010 level could target the downside support at 1.975 followed by 1.960 and 1.946 levels over the longer...
The EURAUD currency pair price action sentiment appears neutral, supported by the longer-term sideways consolidation. However, the recent oversold bounce-back retest of the major resistance at 1.6517 could trigger a bearish reversal. The key trading level is at 1.6517, which is the current swing high. A bearish rejection from the 1.6517 level could target the...
The BRENT Crude (Brent Crude) price action sentiment appears bearish, supported by the longer-term prevailing downtrend. The key trading level is at 7580, 20th February swing low level. An oversold rally from the current levels and a bearish rejection from the 7580 level could target the downside support at 7373 followed by 7300 and 7242 levels over the longer...
The WTI Crude (US Light Crude) price action sentiment appears bearish, supported by the longer-term prevailing downtrend. The key trading level is at 7200, 20th February swing low level. An oversold rally from the current levels and a bearish rejection from the 7200 level could target the downside support at 6964 followed by 6880 and 6830 levels over the longer...
The Silver (XAGUSD) price action sentiment appears bullish, supported by the longer-term prevailing uptrend. The price action is creating a sequence of higher highs and higher lows. The recent consolidation appears to be a corrective pullback. The key trading level is at 3197, which is the current swing low. A corrective pullback from the current levels and a...
The GOLD (XAUUSD) index pair price action sentiment appears bullish, supported by the longer-term prevailing uptrend. The recent intraday price action appears to be an overbought consolidation after reaching the all time high on 20th Feb ‘25. The key trading level is at 2900 level, the consolidation price range and also the current daily pivot level. A corrective...
The FTSE (UK100) index price action sentiment appears bullish, supported by the longer-term prevailing uptrend. The key trading level is at 8590, previous consolidation zone and a rising trendline zone. A corrective pullback from the current levels and a bullish bounce back from the 8590 level could target the upside resistance at 8695 followed by the 8740 and...
The CAC (F40) equity index price action sentiment appears bullish, supported by the longer-term prevailing uptrend. The recent intraday price action appears to be a sideways consolidation towards the rising support trendline zone. The key trading level is at 8090 level, the previous consolidation price range, 50 Day Moving Average and also the rising support...
The Russell2000 (US2000) index price action sentiment appears neutral, the longer-term prevailing uptrend is challenged as the price closed below the psychologically important 200-day moving average. Since reaching an all-time high on 25th November 2024 the Russell2000 index price action is consolidating in a sideways trading range. The key trading level is at...
The Dow (US30) index price action sentiment appears bullish, supported by the longer-term prevailing uptrend. However, since reaching an all-time high on 04th December 2024 the Dow index price action is consolidating in a sideways trading range. The key trading level is at 42980, previous consolidation zone and the rising support trendline . A corrective pullback...
The NSDQ (USTec) index pair price action sentiment appears bullish, supported by the longer-term prevailing uptrend. The recent intraday price action appears to be a corrective pullback after reaching the all-time high. The key trading level is at 21290 level, the consolidation price range and also the previous resistance is now a newly formed support zone. A...
S&P (US500) index pair price action sentiment appears bullish, supported by the longer-term prevailing uptrend. The recent intraday price action appears to be a sideways consolidation after retest of all time high on 19th Feb ‘25. The key trading level is at 5980 level, the consolidation price range and also the previous resistance now newly formed support zone....
The EUR currency further weakened against the JPY earlier today when the BOJ Governor Kazuo Ueda signalled that the central bank stands ready to increase government bond buying if long-term interest rates rise sharply, reiterating the BOJ’s long-standing commitment to supporting stable markets. The EURJPY price action sentiment appears bearish, supported by the...
The USDJPY fell below the psychologically important 150.00 level. Markets are pricing in a roughly 84% chance of a 25bps hike at the BoJ July meeting, up from a 70% chance at the start of the month. The USDJPY currency pair price action sentiment appears bearish, supported by the longer-term prevailing downtrend. The key trading level is at 150.80, which is...
The NSDQ (USTec) index pair price action sentiment appears bullish, supported by the longer-term prevailing uptrend. The recent intraday price action appears to be a sideways consolidation after reaching the intraday all time high. The key trading level is at the 21890 level, the consolidation price range and also the previous resistance is now a newly formed...