Elliott Wave Technical Analysis: Natural Gas – Thursday, April 25
Photo by American Public Power Association on Unsplash Natural GasMode – Impulsive Structure – Impulse Wave Position – Wave (iii) of 5Direction – Wave (iii) of 5 still in playDetails: Price now in wave iii as it attempts to breach 1.65 wave i low. Wave (iii) is still expected to extend lower in an impulse.Natural Gas is currently breaching the previous April […]
Copper Market Commentary – Thursday, April 25
Image Source: Pexels Fund Inflows Boosting CopperCopper prices are pushing higher again on Thursday following a brief correction lower in recent days. The fresh uptick has been attributed to sizeable fund inflows as money managers continue to buy into the metal. Along with heavy fund inflows, supply shortages continue to underpin bullish sentiment. Goldman Sachs is […]
AUD/USD Forex Signal: More Upside Ahead Of US PCE Data
Bullish view Buy the AUD/USD pair and set a take-profit at 0.6555. Add a stop-loss at 0.6450. Timeline: 1-2 days. Bearish view Set a sell-stop at 0.6480 and a take-profit at 0.6400. Add a stop-loss at 0.6550. The AUD/USD pair retreated slightly as traders refocused on the upcoming US GDP and PCE economic numbers. The […]
Sensex Today Trades Flat; Nifty Below 22,350
Asian stocks fell on Thursday as disappointing earnings forecasts from Facebook parent Meta Platforms hammered tech shares, while the yen’s slump past 155 per dollar for the first time since 1990 raised the spectre of intervention from Tokyo.Japan’s Nikkei slid 1.3%, while China stocks also fell and Hong Kong’s Hang Seng Index 0.5% lower.US stocks […]
EUR/JPY Price Analysis: Extends Its Upside Above 166.50 Amid The Overbought Condition
EUR/JPY gains traction near 166.85 on Thursday, the highest level since 2008. The cross keeps the bullish vibe, with the overbought RSI condition. The first resistance level will emerge at 166.82; the initial support level is located at 165.35. The EUR/JPY cross trades in positive territory for the fifth consecutive day during the early European trading hours on Thursday. The cross […]
Market Briefing For Thursday, April 25
Data has been hawkish – enough to keep traders jittery about the future as regards monetary policy / interest rate loosening. Simply enough: high Oil has been sufficient to reflect why there’s no particular relief on inflation or of news that would ‘justifiably’ cause the Fed to cut rates (meaning they could, but not with a particular data justification, […]
CBA Stock Analysis & Elliott Wave Technical Forecast
ASX: COMMONWEALTH BANK OF AUSTRALIA. – CBA Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with COMMONWEALTH BANK OF AUSTRALIA. – CBA. We identify a correction wave as the 2-red wave that has just ended, and we are continuously watching for a CBA for a Long-term trade.ASX: COMMONWEALTH BANK […]
Stocks Stall Ahead Of Massive Data Dump And Earnings
Stocks finished flattish on the day, but we are moving into the busiest part of the week. Now that Meta’s results are out of the way, we will have GDP and PCE to finish the week off, along with earnings from Microsoft and Alphabet. On top of that, next week will be even busier with […]
The Bear Market Rally Of Oct22-Mar24 Is Over
The bear market rally which began on October 13, 2022 with an intraday low of 3,492 topped on March 28, 2024 with an intrday high of 5,265. From top to bottom the S&P rallied about 50%.It has been well said that “bottoms are events while tops are processes”. In this blog, I will review the […]
GBPUSD Reverses Course: Downtrend Over Or Bullish Correction?
GBPUSD’s recent price action indicates a potential shift in momentum. This analysis examines the technical situation and explores potential scenarios for the currency pair. GBPUSD Breaks Above Trend Line Downtrend Correction Likely: GBPUSD has decisively broken above the falling trend line on the 4-hour chart. This trend line had been a key resistance level throughout the […]
