|Day's Range||14.895 - 14.990|
Silver markets went back and forth during the week, which probably had quite a bit of trading volume socked out of it due to the Easter holiday coming, and of course the Good Friday holiday Matt that it was only a four day week to begin with.
Gold markets fell rather hard during the week, crashing into what I believe is a significant support level. It will be interesting to watch what happens next, but clearly we have seen a complete change in attitude over the last several weeks.
The Australian dollar initially tried to rally during the week but also gave back the gains to roll over and form a bit of a shooting star. We are starting to see resistance at an area where you would expect it, so it makes sense that we get a bit of a pullback.
The US dollar continues to go sideways overall against the Japanese yen, as we head into the Easter holiday. At this point, the lack of liquidity would have made the candlestick on Friday less than impressive, but quite frankly if you look at the rest of the week, it was much the same.
With the lack of liquidity on Friday, the British pound didn’t do much against the Japanese yen. However, we are at a very interesting level that we should be paying attention to.
Market watchers noted the movement of digital assets from unknown wallets to crypto exchanges, which may indicate a willingness to sell. Whether this is so, we can find out this coming weekend.
Zoom Video Communications, Inc., also known as Zoom, went public today on the Nasdaq stock exchange. Zoom, which licenses video-conferencing technology, made $7.5 million in 2018, making it the rare technology IPO that is profitable. Investors rewarded Zoom for that track record in the company’s first day of trading.
Some stocks are best avoided. We don't wish catastrophic capital loss on anyone. For example, we sympathize with anyone who was caught holding Santacruz Silver Mining Ltd. (CVE:SCZ) during the five years that saw its share pr...
Natural gas markets broke down during the trading session on Thursday, after the inventory report turned right back around to show signs of life. By doing so we are forming a bit of a hammer and that is important as it is right at a major bottom.
The Australian dollar continues to grind sideways just below an important technical figure, so it makes sense that we simply can’t get anywhere. With that being the case, more sideways and listless trading is probably ahead.
Based on the early price action and the current price at $1277.60, the direction of the June Comex gold market the rest of the session is likely to be determined by trader reaction to yesterday’s close at $1276.80.
Steve Pickett became the CEO of RigNet, Inc. (NASDAQ:RNET) in 2016. This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. After that, we will consider the gro...
With prices headed toward the psychological $2.50 level, the major concern for short-sellers is not the bearish fundamentals, but the technically oversold conditions. This creates the potential for a “sell the rumor, buy the fact” situation.
Based on Wednesday’s price action and yesterday’s close at 7689.75, the direction of the June E-mini NASDAQ-100 Index is likely to be determined by trader reaction to the pivot at 7666.00.
Stock markets continue to struggle during the day on Wednesday, as we have hit a major high as of late. Overall, the market continues to be very choppy and difficult, but that makes sense considering we are in the middle of earnings season.
The Silver markets initially tried to rally during the day on Wednesday but then pulled back a bit to form a less than impressive candlestick. However, there is significant support underneath so it’s very likely that we need to make a serious decision.
Gold markets initially tried to rally during the trading session on Wednesday but gave back the gains to test the crucial support level that I have marked on the chart.
Based on the early price action and the current price at $1276.80, the market is trading on the weak side of a steep downtrending Gann angle at $1282.70. This has put it in an extremely bearish position.
U.S. manufacturing output was unchanged in March after two straight monthly declines, resulting in the first quarterly drop in production since President Donald Trump was elected. The weakness in manufacturing reported by the Federal Reserve on Tuesday is in tandem with a moderation in the broader economy, and is despite the White House's "America First" policies, including trade tariffs aimed at protecting domestic factories from what Trump says in unfair foreign competition. Soft manufacturing and slowing economic growth reflect the ebbing stimulus from a $1.5 trillion (£1.2 trillion) tax cut package and supply chain disruptions caused by Washington's trade war with China.
The Australian dollar pulled back a bit during the trading session on Tuesday but found enough buyers to turn around of form a somewhat supportive looking candle. We are pressing the 200 day EMA though, so that should be paid attention to.
Silver markets fell during trading on Tuesday, reaching towards the bottom of the previous days hammer, which of course is a very negative sign. However, there is still support underneath that continues to affect this market.
Natural gas markets fell slightly during the trading session to open up Tuesday trading, but quite frankly we are still within a consolidation area that will continue to decide where the market goes next.
The British pound pulled back a bit during the trading session on Tuesday, reaching towards the 1.3050 level. By doing so, it looks very likely that we are going to continue to see a lot of back-and-forth.