A Subtle But Important Shift In The US Indices?
As we move towards the end of the first quarter of the new year, it is interesting to consider one of the more subtle changes to the principle US indices that appears to have passed by unnoticed,
Anna Coulling
Oil Prices Continue Their Stately Progress Higher
The word that comes to mind to describe the price action on the daily WTI oil chart is ‘stately’ with crude oil continuing to move higher in a series of small rallies then punctuated with a pause point and further consolidation.
Bullish Copper Takes Out Key Level
After the malaise of the last few months, copper finally nailed a key technical level firmly into place on Friday as the red metal surged higher, closing the session with a wide spread up candle supported with excellent volume, thereby confirming the validity of the move higher.
Gold Finally Breaks Away From Volatility Candle
Gold prices finished last week in bullish mood once again following the extended period of price congestion which has seen the precious metal trade within the range of the wide spread volatility up candle of the 11th February.
The Weekly YM Provides A More Balanced View
As each new year comes around, and we celebrate the new and say goodbye to the old, as traders we are never sure what it is precisely we are welcoming in, or indeed saying goodbye too.
Plenty Of Smoke But No Roast!
As a trader and investor, I always find volatile markets the most interesting and rewarding.
Copper Prices Remain Beaten Down
The start of the new year has seen no let up in the torrid time for commodities and commodity currencies, but for copper the continued uncertainty in China (FXI, quote) coupled with US dollar (UUP, quote) strength and lack of global economic growth continues to weigh particularly heavily, with the base metal breaking through the psychological $2.00 per lb price point, and currently trading at $1.965 per lb at time
Oil Takes Out One Level, And Now Looks To The Next!
When considering such as bearish chart as for crude oil, it’s interesting to play a mind game and consider it as perhaps a stock chart – an Enron or a Worldcom, and the prospect of oil going to zero.
Not A Happy New Year For WTI
For oil prices, the new year could hardly be described as happy, as the relentless decline in prices continues, with December’s pause now starting to fracture, as February’s WTI contract picks up downside momentum.
Chinese Firecracker Starts New Year With A Bang
If traders drifting back to their desks for the start of the new trading year were expecting a quiet start, Chinese economic news delivered a shock to global markets with the Caixin Manufacturing index coming in below expectation at 48.2 against a forecast of 48.9, with the Nikkei 225 falling almost 600 points to close at 18,450.98 on the release.