Looking back to 2007 (seven years ago) we have seen the price of crude oil perform incredible price swings. No matter the time frame in which we observe price when an extreme price spike takes place due to news/event, statistics show that half if not all the event driven price spike will eventually be negated in the future. The perfect example of this is the rubber band affect. If you pull an elastic band in one direction, eventually when it breaks or its released, the band will ...
Talking Points: US Dollar Advances Most in 16 Months, Hits Four-Year HighS&P 500 Attempting to Break Out of Two-Week Down TrendGold Aims to Extend Decline After Sliding to a 10-Month Low US DOLLAR TECHNICAL ANALYSIS Prices issued the largest daily gain in 16 months, rising to the strongest level since June 2010. Near-term resistance is at 11176, the 38.2% Fibonacci expansion, with a break above that on a daily closing basis exposing the 50% threshold at 11232. Alternatively, ...
Talking Points: US Dollar Signals Near-Term Top Forming Below Six-Month HighS&P 500 Chart Positioning Hints a Downturn May Be in the CardsGold Moves to One-Week High, Crude Oil Struggling to Advance US DOLLAR TECHNICAL ANALYSIS Prices may be carving out a near-term top after forming a bearish Evening Star candlestick pattern. A daily close below the 14.6% Fibonacci retracementat 10618 exposes the 23.6% level at 10591. Alternatively, a reversal above the 14.6% Fib ...
Talking Points: US Dollar Soars to 6-Month High as Rally Regains MomentumS&P 500 Eyeing Pivotal Resistance Marked by July Swing TopGold Selloff Continues for Third Day, Crude Oil May Rebound US DOLLAR TECHNICAL ANALYSIS Prices resumed their advance having reversed upward as expected after putting in a Bullish Engulfing candlestick pattern. A daily close above the 38.2% Fibonacci expansion at 10627 exposes the 50% level at 10652. Alternatively, a reversal ...
Talking Points: US Dollar May Drop Before Larger Advance Resumes AnewS&P 500 Continues March Upward, Eyeing July Swing TopCrude Oil Chart Setup Suggests a Rebound May Be Brewing US DOLLAR TECHNICAL ANALYSIS Prices turned lower as expected, completing a bearish Evening Star candlestick pattern and hinting at further losses ahead. Negative RSI divergence bolsters the case for a downward scenario. A daily close below the 14.6%Fibonacci retracement at 10547 exposes the ...