Mariya Gordeyeva | Reuters Traders who went short gold in May are beginning to consider covering their short positions. The collapse of the gold price was a classic trend change. It started with a retreat from a strongly defined resistance level near $1,365. It continued with a move below the long-term uptrend line that had […]
Damien Meyer | AFP | Getty Images Tech heavyweights Facebook, Apple, Netflix, Amazon and Google parent Alphabet have an inordinately large weighting on the Nasdaq, so any change in their financial health has a disproportionate impact on the index, both bullish and bearish. But is it fatal? Are tech ructions a precursor to another crash? There are […]
The Australian dollar in various denominations. Brendon Thorne | Bloomberg | Getty Images The market contradiction with the persists. The Australian market is making new 10-year highs, although has stalled near resistance at 6,300. New and persistent market highs are a sign of economic strength, although the Reserve Bank of Australia continues with low interest […]
A heavy crude oil pump. James Hall | EyeEm | Getty Images A little over a month ago I wrote about NYMEX oil and suggested that the pullback was a buying opportunity. Investors watch for the opportunity to add to long positions as the price rebounds from any of the three support features on the […]
Stack of dollar bills. Marcos Brindicci | Reuters The breakout in the U.S. dollar appears to have slowed, so investors across the board are eager to determine if that is the end of dollar strength, or just a pause. Before we get too carried away with the idea of a strong dollar it’s useful to […]
Pedestrians walk past an electronic board showing the closing trade numbers of the Hang Seng Index in the Central district of Hong Kong on July 6, 2015. Isaac Lawrence | AFP | Getty Images Hong Kong’s Hang Seng Index has broken two significant support features, suggesting a continuation of its downtrend —with a downside target […]
Carolyn Hebbard | Flickr | Getty Images A few weeks ago I noted the market contradiction between the and the .The stock market was making new 10-year highs but the currency was posting significant lows. There was a contradiction, and a question arose: Who is the dominant partner in this relationship? Well the answer is […]
We suggested in August that traders who went short gold in May were beginning to consider covering their short positions. The consolidation over the past few weeks has triggered short covering, but it has not encouraged new long positions. When the gold price rebounds, it tends to do so rapidly without any consolidation activity. The […]
Daily Item Staff November 12, 2023 by Daily Item Staff Source link
A cyclist rides past an electronic stock board showing a figure of the Nikkei Stock Average outside a securities firm in Tokyo, Japan, on Friday, Jan. 12, 2018. Tomohiro Ohsumi | Bloomberg | Getty Images Coincidence in the markets can mean nothing, or it can provide a very useful trading edge. Looking at the below […]
