US stock markets recover and start to build again

It was another roller-coaster ride for US equities last week, with Wednesday’s dramatic move lower on global tensions in the Yemen, reversing at a stroke the gains of earlier in the month. Thursday’s price action then confirmed the short term … Continue reading

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US dollar bounces back

At the start of a another trading week which culminates in the monthly Non Farm Payroll release on Friday, it’s perhaps a good time to review the daily June futures for the four currency majors, namely the Aussie dollar, the … Continue reading

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Natural gas breaking down

Whilst fundamentals and weather play a huge role in driving the price action for natural gas, the technical picture is now increasingly taking centre stage as we move into the warmer months of the year and the commodity responds accordingly. … Continue reading

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Gold rally running out of steam….again

This week’s rally in gold, spurred by the combined effects of a weaker US dollar and tensions in Yemen which saw the precious metal touch a high yesterday of $1219.50 now appears to be running out of steam. Yesterday’s price … Continue reading

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All hands to the pump failing to keep oil afloat

In viewing the daily chart for oil, several analogies come to mind, and perhaps the best and most descriptive is of an old tramp steamer, wallowing in heavy seas and increasingly taking on water in a desperate battle to stay … Continue reading

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Testing times for US equity markets

It’s a testing time for US equity markets in every sense of the word with the principal indices of the YM, the NQ and the ES all exhibiting similar price behaviour following the recovery from the long over due correction … Continue reading

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US dollar blows the market apart

If there is one term which could best describe last week’s price action in the currency markets it would be that much over used word – volatility – and it is the common thread which ties the four currency futures … Continue reading

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The sun is shining again for the VIX

With yesterday’s FOMC brouhaha now out of the way for another month, it’s an apposite time to consider the VIX for the ultimate barometer of risk, and perhaps the best analogy here is of a guitar string, with the sound … Continue reading

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Risk sentiment returns with NQ emini leading………again

Ahead of this week’s key FED decision and statement, once again it’s the NQ emini which is leading the principle US equity markets higher with the recent correction now appearing to be over, and whilst the YM emini is trading … Continue reading

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Oil remains under pressure on all sides

From a technical perspective, last week was a seminal one for crude oil with the commodity finally breaching the platform of support in the $48 per barrel region, which until then had been holding firm. However, once Thursday’s price action … Continue reading

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Aussie dollar down and out

Bearish momentum has picked up once again in the Aussie dollar, following the Business Confidence release which came in worse than expected at 0 against a previous of 3. This has resulted in, not only sending the AUD/USD lower, but … Continue reading

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A significant time for the EUR/USD

Last week’s price action for the eurodollar was significant for several reasons. First, and perhaps most importantly, the congestion phase which began in late January, and extended throughout February, finally came to a close, with Wednesday’s price action holding below … Continue reading

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Simply a market correction for US indices

Friday’s significant sell off in US equities came as no great surprise and indeed in my post of last week, I suggested that this would be the case, given the parabolic nature of the price action on the daily chart … Continue reading

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The sonic boom…..was in gold!

For those of you reading this who remember Concorde, the last of which flew in 2003, you may also remember that it was one of the first commercial aeroplanes to break the sound barrier, a point always accompanied with a … Continue reading

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USD on the march towards 100

An interesting morning for traders so far, with the London session well under way, and what is perhaps revealing  is the continued rise in the US dollar intraday, with no evidence of a pause ahead of the Non Farm Payroll … Continue reading

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Silver now at the tipping point

The technical picture for silver continues to remain extremely bearish following the weak rally of late February, which saw the metal run into resistance in the $16.80 per ounce area, before picking up the downwards momentum once again.The question now … Continue reading

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NQ emini and the VIX – working in tandem

It’s been an interesting start to the week for indices once again, and as I mentioned in my analysis on Monday, the parabolic price action of the NQ in particular, is suggesting a market that is exhausted, whilst desperately trying … Continue reading

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Silver and gold both approaching key technical levels

With equity markets continuing to maintain their bullish tone, albeit in a rather muted phase of price action at present, the outlook for gold, and its sister metal, silver, remain firmly weak, both in the short and longer term. For … Continue reading

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