GBP/USD 4 hour The GBP/USD bullish bounce at support (blue) has created a new bullish breakout above the resistance trend lines (dotted red). This could be part of a wave 5 (green) pattern that could create one more higher high in this uptrend. A break below the support zone could indicate the end of the…
NEO, was once again the winner of the top 10 cryptocurrencies, even though it erased most of its earlier gains by the end of Monday’s trading day. Also known as Ethereum of China, NEO aims to contribute to a smart economy. They are looking to not only use the blockchain for fast transactions but also…
The Chart of the Day belongs to Palatin Technologies (PTN). I found the biomedical stock by using Barchart to sort today’s New 52 Week High list first for the highest Weighted Alpha, then I used the Flipchart feature to review the charts for consistency. Since the Trend Spotter signaled a buy on 2/14 the stock…
Famed technician Louise Yamada at LY Advisors warns that investors have been selling the rallies since the January peak, leading to a descending triangle formation on the chart, which is typically a bearish sign. Here’s some of what she told Financial Sense Newshour listeners on Saturday’s podcast regarding her technical outlook… Rallies Show Weakness Since…
May natural gas prices settled down just a few ticks on the day as heavy selling early was met with buying off the $2.65 support level. Prices recovered the most at the front of the strip, with later contracts generally lagging. The result was a rather significant move upwards in K/M today, indicative of the…
Indian stock markets ended higher on Monday taking cues from their Asian counterparts. The S&P BSE Sensex ended at 33,788, up 162 points while the broader Nifty 50 index settled at 10,379, up 48 points. Among sectoral indices, the Nifty FMCG index ended 1.2% up led by a rise in the shares of Marico and…
It seems the machines never sleep. Before China’s Xi had even uttered a word – in war or peace – Nasdaq futures were ramping up 1% from the cash close and the S&P and Dow following… And once it was clear that Xi was not going to drop another trade war tape bomb, futures extended…
A Mandarin language analysis of Alibaba’s decision to sell its stake in the hugely popular Chinese start-up Meituan states that Meituan was beginning to compete with Alibaba, creating a “shaky” situation. Moreover, Meituan refused to utilize Alibaba’s payment unit, Alipay, hurting Alipay and “clearly annoying” Alibaba CEO Jack Ma in the process, the article asserted. Alibaba sold its 7% stake in Meituan…
Another global bank CEO is given his walking papers. John Cryan’s tenure at Deutsche Bank was unsurprisingly brief. He began it by being realistic. Upon being hired for the top job, Cryan predicted his stay there would, “[depend] on how well we deliver on strategy, impress clients and reduce complexity.” It’s that last one nobody…
