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RidetheMacro|Natural Gas Analysis Winter is Coming.📌 Natural Gas Key points Fundamentally, the weather is not expected to be a big help this week, but traders are likely to be more interested in liquefied natural gas anyway. At this time, the demand picture is unclear, which could be bearish for the November futures contract, but at some time in the near future, the outlook for increased demand could provide the support for the December futures contract. “While the weather picture isn’t great for bulls, contracts beyond November are at a growing risk for a snap back higher,” Bespoke said. “It’s just a matter of when the market decides to let the November contract completely disconnect from the rest of the curve, the timing of which is difficult to pinpoint. But Can Expect the targets of 3.0xx-3.5xx 🎯. Until The Next time. RideTheMacro
NLong
by Ridethemacro
RidetheMacro| AUDUSD Crawls downwards 📉AUDUSD Key Points The Focus will be on the Australian Dollar this week with the Reserve Bank of Australia (RBA) expected to make a major decision on its cash rate. Additionally, the government will release its Annual Budget. As of Friday’s close, market consensus was evenly split on whether the RBA will adjust the cash rate in October or November. A 50/50 consensus usually means no rate cut. Rather than another full 25 basis point cut, it seems most market participants are anticipating some version of “micro easing” such as lowering the official cash rate from 25 bps to 10 bps this month or next. “Consequently, financial markets are now anticipating a roughly 50% chance the RBA will cut the official cash rate before the end of the year,” according to Brian Reid, Treasurer of Newcastle Permanent. For weeks, investors had been pricing a rate cut to 0.10%, based on forecasting from Westpac. But that changed last week with Westpac economists now forecasting November instead, at the November 3 meeting. until the Next time. Ridethemacro
Short
by Ridethemacro
Boeing the Obvious Loser of a Trade SkirmishI hope everyone has had a solid week. I was doing some end of week checks and I think that this is a great trading idea based off the latest trade skirmishes between the United States and, well, everyone. Boeing is a developer and manufacturer of airplane and airplane parts, and gets a a fair bit of business from China (10%, give or take, of its total revenue). With the latest threat of trade war I decided to pull up the technical anaylsis here and I I think this is a wonderfully interesting chart. As you can see, investors have priced in the possibility of a trade war in the stock already. However, if you look at how the stock itself was performing, I feel there could be further pressure down. There are multiple levels of support in the Fib sequence, and you can see that it has found one here. If this breaks, however, there could be extreme downside pressure which could possibly lead the price down to the last Fib level. For those who are in the mood for a high-risk/high-reward trade, if the stock pierces the current Fib level where it has found support significantly, this could be a wild ride straight down. Insider transfers and institutional transfers are also both down, (-8.7% and -2.76%, respectively). The only issue is there is high short interest, which could easily cause a short squeeze. Overall, if you love high-risk versus high-reward, this is a great trade for you.
NYSE:BAShort
by jgree107