CMC Markets

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Depending on one’s timeframe, gold has either stalled or is gradually grinding higher. This is because gold has been moving sideways since mid-April but has been trending upward within a technical trading channel since mid-May. It has been a frustrating period for gold traders, with numerous false starts moving higher and lower. However, long-term holders...

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All the conditions for a reversal in the NASDAQ 100 appear to be in place, but just because these conditions are present doesn’t mean a reversal must occur. The most obvious condition is the presence of a rising wedge, which formed over the past month and broke on Friday. Whether this pattern entirely unfolds remains to be seen, but there is supporting evidence...

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Gold prices have stalled once again and have struggled to make any significant advances since mid-April, remaining stuck in a range between $3,150 and $3,450. This trading range has resulted in sideways price action, with several false starts along the way. However, technical analysis suggests that this range is likely to remain in place. After breaking above a...

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It looked as though the Nasdaq 100 might break out last week, following a double boost from Nvidia’s surge after its results and news that a federal court had blocked US President Donald Trump’s tariffs. However, those hopes quickly faded, and the Nasdaq promptly reversed course. Now the index finds itself in a precarious position, as it appears to be preparing...

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The EURUSD is beginning to show signs of a reversal as momentum shifts and moves above its 10-day exponential moving average. The EURUSD has recently experienced a significant move since early February, rising to a high of 1.147, which resulted in it becoming overbought, touching its upper Bollinger band, and pushing the RSI above 70. Now, after a brief pullback,...

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Gold is breaking down and may now have formed a double top pattern. The precious metal fell below the neckline of the double top at 3,230, which implies that gold prices have further to fall. A projection of that double top suggests that gold could fall to around $3,000. There is more at play here, suggesting that something deeper could be unfolding for gold....