WTI Crude Oil The WTI Crude Oil market fell a bit during the trading session on Wednesday, but obviously on very low volume. The $60 level offered a bit too much resistance, so it’s not a surprise that we would pull back from there. The large, round, psychologically figure will more than likely continue to…
Asian stock markets are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 0.15% while the Hang Seng is up 0.66%. The Shanghai Composite is trading up by 0.52%. US stocks ended in green on Wednesday, with gains in real estate and utilities offsetting declines in energy and telecommunications stocks. Back home, India share markets have…
GBP/USD 4 hour The GBP/USD broke the resistance (dotted red) of triangle chart pattern, which could be a bullish breakout within a wave 5 (brown) of wave C (green). The bullish break could see price move towards the Fibonacci targets of waves 5. 1 hour The GBP/USD has completed an ABC (blue) correction within a…
After Mallinckrodt (MNK) experienced cracks in Acthar sales I all but left the company for dead. Last week it announced it expected up to $500 million in deferred tax benefits after President Trump’s tax cuts take hold. It subsequently announced the $1.2 billion acquisition of Sucampo Pharmaceuticals (SCMP): Mallinckrodt Plc agreed to buy Sucampo Pharmaceuticals…
Gold prices ended Wednesday’s session up $4.34 an ounce, supported by a lower U.S. dollar index. XAU/USD continued to rally and hit four-week highs in Asia trade today. Pending home sales were better than expected but the Conference Board’s consumer confidence index came out below forecasts. The bulls still have the near-term technical advantage, with…
Politics drove currency market trends in 2017… The US Dollar reversed the so-called “Trump trade” narrative prevailing in the months following the 2016 presidential election, falling against all of its major counterparts. The greenback had been buoyed by hopes that the eccentric billionaire’s unlikely triumph would bring inflationary fiscal stimulus and push the Fed into a steeper rate hike cycle….
Let’s be honest – all people are looking for easy ways to earn money. Those, who have funds, invest into businesses or buy shares of big companies, other people try other things starting from gambling and ending with trading on financial markets. You have probably heard of Forex because it has a skyrocketing popularity these…
S&P 500 The S&P 500 was pretty quiet during the Wednesday session, which of course is what you would expect in a thin environment. I don’t have any interest in putting a lot of money into the markets right now, because quite frankly it’s nothing short of gambling and only those with issues would probably…
USDCAD extended its downside movement from 1.2920 to as low as 1.2630, facing 1.2623 support. Near-term resistance is at the falling trend line on the 4-hour chart. As long as the trend line resistance holds, the downtrend could be expected to continue and next target would be at 1.2433. On the upside, a clear break above…
