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IBM stock recovers marginally some losses; the long-term sell-off in play. IBM stock price lost significant ground in the preceding week, plunging to a new more than three-month low of 138.64. However, the technical view suggests a possible retracement in the daily timeframe. The RSI indicator is sloping up in the oversold
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Gold advances to an almost 3-month peak; exits trading range. Gold reached a fresh near three-month high of 1230.33 today, continuing the aggressive bullish rally that started in the preceding week. The price successfully surpassed the narrow 1180.60 – 1212.50 range that had been holding since August 20, suggesting further upside moves in the near term. Having a look at
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FTSE 100 stock index (UK 100) struggles near 6 ½-month lows; risk skewed to the downside. FTSE 100 stock index has been under severe pressure over the past two weeks, tumbling to a 6 ½-month low of 6920.60 last Thursday. While the MACD and the RSI have somewhat improved in the four-hour
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EUR/USD remains neutral to bearish in the short-term. EUR/USD found resistance at 1.1600 on Friday, turning back inside the Ichimoku cloud and under its 20 and 50-day (simple) moving averages (MA) early on Monday. The short-term bias looks neutral to bearish as the RSI moves sideways around its 50-neutral mark and the MACD
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As rising US yields and ongoing trade tensions fuel concerns about the global growth outlook, GDP numbers out of China will be the main highlight of the coming week. There will be plenty of other important data too as attention turns to monthly jobs, inflation, and retail sales figures, with
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Dow Jones index (US 30) bulls retake control after sharp sell-off. The Dow Jones 30 index has plummeted considerably over the last couple of days, recording an almost three-month low of 24916. The sharp sell-off drove the index near the ascending trend line, however, the price turned higher after challenging the 200-day simple moving average (SMA),
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The US will see the release of its retail sales data for September on Monday, at 1230 GMT. Forecasts point to an acceleration, which may amplify speculation for a robust Q3 GDP print, potentially helping the dollar to claw back some of its latest losses. The US economy remains on a
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GBP/JPY retains sideways channel; lacks direction in the very short-term. GBP/JPY has been consolidating since September 24 and has been stuck in a channel with upper boundary the 149.50 resistance and lower boundary the 147.20 support. The pair lacks a clear trend in the short-term. However, it climbed above the 20- and 40-simple
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USD/CAD rally eases below short-term downtrend line. USD/CAD has eased back down again after finding resistance at the 23.6% Fibonacci retracement level of the up-leg from 1.2060 to 1.3385, around 1.3072. The price is paring some of the previous days' strong gains and remains in a short-term bearish bias, despite that it stands above the
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Citigroup stock plunges below short-term uptrend line; loses momentum. Citigroup stock price has edged aggressively lower during the last couple of trading days, recording a significant sell-off session on Wednesday. Prices broke below the mid-level of the Bollinger Band and the 40-day simple moving average (SMA), approaching the lower Bollinger Band.
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