Gold and silver both stuck in a narrow range

For gold and silver traders, it was another week which saw both metals move in a narrow range with the regions clearly defined on the daily charts. For silver, the deep resistance level overhead is now firmly in place at … Continue reading

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Finally something to cheer about for oil bulls

It’s been an interesting week for crude oil, which finally managed to find some bullish momentum, with only Friday’s close lower just failing to make it five straight days of gains for the commodity, as the May WTI contract closed … Continue reading

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A key breakout for the USD/CAD on the daily chart

An extremely significant day for the USD/CAD yesterday, which finally ended its extended phase of congestion, a period of price action I have referred to before as a barometer for the currency of first reserve and also oil. (Loonie  a … Continue reading

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Gold and silver now testing key support levels

  Today could be a seminal one for our the celestial metals of gold and silver, as each approach key technical levels on the daily timeframe. Since the start of the month, both gold and silver have rallied, but increasingly … Continue reading

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Yes….the big short is still on hold

US equities closed last week’s trading session in bullish mood once again, with all three of the primary indices exhibiting almost identical price and volume profiles, with the VIX also confirming the current sentiment. The move high on Friday, was … Continue reading

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Silver picking up bearish momentum

In all the media coverage about gold silver is often its forgotten cousin, and yet just like the precious metal, silver too has been battling to hold onto some semblance of bullish sentiment. However, with the resurgence in the US … Continue reading

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A double whammy for oil

The short term rally for crude oil came to a shuddering halt this evening, as two items of fundamental news helped to push the commodity lower once again, reversing most of the gains of the last two days. The first … Continue reading

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Short term bearish trend for EUR/AUD continues in early trading

Following yesterday’s statement from the RBA which brought a temporary halt to the recent long term bearish sentiment for the Aussie dollar,  the EUR/AUD has continued to move lower in early trading this morning on the 60 minute chart, moving … Continue reading

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Loonie – a barometer of the USD and oil

Today, of course, is FOMC day with the minutes due at 2.00 pm EST, and following in the wake of the dire NFP data on Friday it will be more than interesting to see whether the tone from the FED … Continue reading

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Aussie strength reflected in the EUR/AUD following RBA

The focus for forex traders overnight was in Australia with the RBA taking centre stage with its decision on interest rates and associated statement. The release was preceded with some volatile price action which has raised several questions regarding who … Continue reading

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A classic trap move on the EUR/USD

With Greece firmly back in the picture, the outlook for the euro remains bearish against the US dollar, and with the recent rally for the pair now consigned to history, the downwards trend is now firmly back in play with … Continue reading

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Crude oil remains heavily bearish with oil inventories coming!

Both the technical and fundamental picture for oil continue to remain heavily bearish, and even the short term effects of the problems in the Yemen, failed to deliver any meaningful support, with the knee jerk reaction to these events duly … Continue reading

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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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