Gold (XAU/USD)
Fundamental Analysis
Did the NFP report save Gold? I don’t know, temporarily at least? Yes, for sure.
After a very strong ADP report on Wednesday, the Gold was heading south and except for the NFP report, breaking 1893 was inevitable.
Given that the NFP report favored Gold, it naturally had a negative impact on the USD. Therefore, if the CPI...
SPY or the S&P had been trapped into a channel between 300 and 323.
Are we going to retreat back and retest the 200 MA around 300 or we will see a breakout soon?
All in the virus hands I guess, I feel the crowd is trying to convince themselves this corona thing is history.
But I mean how could one possibly ignore the current daily astonishing numbers.
Anyhow, Mr....
Airlines earning are all due in July:
DAL 14 July BMO est. $-4.06 / $2.17B
UAL 21 July AMC est $-9.41 / $1.14B
AAL 23 July BMO est. $-7.03 / $1.43B
LUV 23 July BMO est. $-2.67 / $0.54B
All eyes will be on DAL tomorrow to sense where this mess is going.
As for AAL, it closed above the downward sloping trendline but this could be easily a bull trap....
Following the price action of AAL during the past days, it's clear that Bears failed to retest the lows which I was highly anticipating around 10.30 in fact it made an impressive strong rebounded today from 11.41 low on decent volume. RSI pointing sideways at 42 after bieng downward sloping.
On average volume, today's reverse price action for me is bullish (over...
