As noted on the following Monthly chart, 72.00 (40% Fibonacci retracement level) could be the next major target for WTI Crude Oil. Price briefly hit the 60.00 level yesterday (Tuesday) and was trading above two levels of major support — 54.66(23.6% Fib retracement level) and 48.00 (price and channel centreline support). As long as price can re-take 60.00 and hold above that level, there’s a good…
The Case-Shiller national home price index surged past the pre-recession high last year. The city composites lag. Steady gains continue in the Case-Shiller Home Price Indexes. Case-Shiller Year-Over-Year Summary The National Home Price NSA Index reported a 6.2% annual gain in October, up from 6.1% in the previous month. The 10-City Composite annual increase came in…
A plunging US Dollar translated into gains for commodities. The currency fell alongside Treasury bond yields, boosting the appeal of non-interest-bearing and anti-fiat alternatives. Not surprisingly, that sent gold prices marching higher. Crude oil prices got a lift as well as a weaker greenback translated into a de-facto boost for USD-denominated assets. A clear-cut catalyst for the move is…
Cryptocurrency Update: Most major cryptocurrencies including Bitcoin, Ethereum, and Litecoin had a Christmas gift for those investors who had set up a buy limit order at lower prices last week. Will this be the gift the keeps on giving? Cryptocurrency Pullbacks In a massive but temporary pullback, most cryptocurrencies saw a sharp decline to key support…
EUR/USD The EUR/USD pair fell during the trading session on Tuesday, but found enough support near the 1.1850 level to turn things around and form a hammer. The hammer is preceded by a hammer as well, so that’s a good indication that there are plenty of buyers willing to get involved. I think that once…
Wednesday’s stock picks: Long Amicus Therapeutics (FOLD) Long FMC Corp (FMC) Short W.R. Grace (GRA)
It’s time again for our weekly gasoline update based on data from the Energy Information Administration (EIA). The price of Regular and Premium were up two cents each from last week. According to GasBuddy.com, Hawaii has the highest average price for Regular at $3.23 and San Francisco, CA is the most expensive city, averaging $3.22. Oklahoma…
The week between Christmas and New Years’ doesn’t have to be boring. At least in Australia, it isn’t that cold: it’s midsummer in the land down under. And also the Aussie is enjoying the heat. AUD/USD is trading around 0.7750, up from 20 pips on the day and enjoying a week of consecutive advances. The…
On Tuesday, share markets in India finished on an encouraging note red after trading range bound throughout the day. The BSE Sensex closed higher by 70 points to end above the 34,000 mark for the first time, at 34,011while the broader NSE Nifty ended the day higher by 39 points to close at 10,531. Among…
Just before Christmas 2014, the Bureau of Economic Analysis upgraded Q3 2014 Real GDP to +5.0%. That represented a huge acceleration from earlier that year when during the depths of its Polar Vortex infused winter Q1 2014 GDP had contracted sharply (according to contemporary estimates). One need not be a betting man to hazard a…
