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NASDAQ 100 index (US 100) continues the rebound on 14-month low with slower momentum. The US 100 stock index (NASDAQ 100) has reversed its direction back to the upside, hitting the 50-day simple moving average (SMA). Currently, the price is hovering around the 38.2% Fibonacci retracement level of the down-leg from 7700 to 5845, near
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Key data releases out of the UK are likely to once again find themselves fighting for attention amid a deepening Brexit turmoil. But although there will be bigger stories than economic indicators dominating the headlines for sterling traders over the next few days, the data could nevertheless provide some clues
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WTI crude oil futures find support at 23.6% Fibonacci; hold within SMA. West Texas Intermediate (WTI) crude oil futures are finding strong support level on the 23.6% Fibonacci retracement level of the sharp downward movement from 76.90 to 42.50, around 50.65. The technical indicators suggest that there are still some investors that
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JPMorgan stock advances in the near-term; indicators signal bearish actions The JPMorgan stock price is continuing last month’s rebound on the 16-month low of 91.07, touching the 101.45 resistance level. However, looking at the technical indicators, they suggest bearish actions as the price opened with a gap down in the previous
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GBP/USD unlocks 2-month peak; turns the short-term bias to bullish GBP/USD is hovering around the two-month high of 1.2930 after it posted two consecutive green days, having broken above the 40-day simple moving average (SMA) and the descending trend line. This week the pair continues to attract buying interest, with the price climbing slightly above the 23.6% Fibonacci retracement level of
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British lawmakers will hold the “meaningful vote” on the government’s Brexit deal on Tuesday evening. The accord is widely expected to be voted down, and although that may hurt sterling initially, the currency’s broader direction will probably depend more on what happens next. Overall, the biggest tail risk for the
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The commodities complex had a particularly volatile run in 2018, with flaring trade tensions, mounting concerns around slowing global growth, and a stronger US dollar being behind the abysmal performance of most commodities. In 2019, the outlook will hinge mainly on how the trade dispute plays out, with precious metals
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Alcoa stock price rises somewhat above a 2-year low; bearish outlook in the long-term. The Alcoa stock price dipped to a new two-year low of 24.98 on December 26 and it is currently hovering slightly above this level. The price remains below the medium-term descending trend line, which has been holding since April 19
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USD/CNH erases downward rally; rebounds on a 6-month low. USD/CNH plunged to a new six-month low of 6.7360 in Friday’s session, creating three straight negative days. The price dropped beneath the 23.6% Fibonacci retracement level of the up-leg from 6.2350 to 6.9781, however, currently, it is paring some of the lost ground. The RSI is pointing
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Gold stays in consolidation area in the near-term; bullish in the medium-term. Gold has been consolidating since January 2 and has been stuck in a channel with resistance boundary the upper Bollinger band around 1297 and support boundary the 1279 barrier. The neutral picture in the short-term looks to last for
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