Last week marked pivotal to financial markets because of the US presidential election results and the Federal Reserve’s interest rate decision. This confluence of events has the potential to significantly shape the trajectory of global asset prices and market trends for years to come. Given the far-reaching political and economic …
Read More »Oil is trying positively 31/10/2024
US crude oil futures saw a positive rebound, recovering from a low of $67.31 per barrel in the previous session. Technical Analysis: Breaching the resistance level of $68.60 has provided support for further gains. The 240-minute chart also shows the Relative Strength Index gaining positive signals, reinforcing the upward outlook. …
Read More »Gold to be monitored closely 31/10/2024
Gold prices have continued their historic climb, reaching $2790 per ounce after surpassing the previous peak of $2758. Technical Analysis: The 4-hour chart shows that simple moving averages continue to support the upward momentum, while the momentum indicator remains strong above the 50 midline, indicating a sustained bullish outlook. For …
Read More »Gold records lower highs 29/10/2024
Gold prices are currently showing positive momentum as they attempt to breach the recent peak of $2758 per ounce. Technical Analysis: Analyzing the 4-hour chart, gold has started forming lower peaks, suggesting a potential continuation of a downward correction. The Stochastic indicator is also providing negative signals, indicating a possibility …
Read More »Oil hits target 18/10/2024
US crude oil futures have successfully reached the first downward target at $69.65 per barrel, recording a low of $69.45. Technical Outlook: Today’s analysis suggests the potential for the downtrend to continue, with the bearish double top pattern on the 4-hour chart maintaining its negative influence. The downward pressure is …
Read More »Gold hits new historic highs 18/10/2024
Gold prices reached a new record high of $2712 per ounce, aligning with the upward momentum highlighted in the previous analysis. The breach of the 2685 level led to the anticipated new highs of 2691 and 2700. Technical Outlook:The technical indicators suggest continued bullish momentum, with the simple moving averages …
Read More »Oil: Negativity persists 17/10/2024
US crude oil futures remain in a downtrend, recording a low of $69.68, approaching the first target of $69.65 per barrel. Technical Outlook: The bearish double top pattern on the 4-hour chart continues to exert negative pressure on prices. With trading stability below $71.20, the downtrend is likely to persist, …
Read More »Gold hovers around the top 17/10/2024
Gold prices are currently hovering around the historical peak of $2685 per ounce but have not yet managed to break through this level, leading to some declines during the previous trading session. Technical Analysis: The simple moving averages continue to support the possibility of an upward move, with the 14-day …
Read More »Oil: Negative pressure persists 16/10/2024
US crude oil futures experienced a significant decline, hitting the target of $69.65 as mentioned in the previous report, with a recorded low of $69.73 per barrel. The bearish double top pattern on the 4-hour chart continues to exert negative pressure, indicating the potential for the downtrend to persist. As …
Read More »Gold achieves goals 16/10/2024
Gold prices surged, reaching the target set in the previous technical report at $2677 per ounce during morning trading. The simple moving averages continue to support the potential for further upward movement, with the 14-day momentum indicator signaling a continuation of the trend as long as prices remain above the …
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