Forecasts & Analysis, Page

Trade deal helped buoy equities

gold prices remain rangebound

It’s a slow first hour for the majors… A move through to key levels by late morning would be needed to avoid a slide into the red…

We’re looking for heightened volatility over the near-term because the U.S. Dollar is likely to wear many hats including investment and safe-haven currency. As an investment, it could feel pressure if U.S. Treasury yields continue to fall. As a safe-haven currency, it could rally if uncertainty over the details of

The market has been forming a rectangular chart pattern with a slight upside bias since bottoming at $1453.10 on November 12. The two higher bottoms at $1456.60 and $1463.00 and the two higher tops at $1489.90 and $1491.60 could be a sign of accumulation.

The key level to watch over the near-term is $60.37. This top was put in on September 16, during the height of the attacks on the Saudi oil production. At that time, prices spiked higher due to extraordinary conditions and worries over supply.

The S&P 500 rallied slightly during the week, reaching towards all-time highs again. At this point, the market is very likely to see pullbacks as a buying opportunity, especially now that we have had the “phase 1 deal” agreed-upon by the Americans and the Chinese.

After peaking in September, gold entered a prolonged corrective phase. The back and forth trade negotiations kept prices in limbo and delayed the final breakdown. With a phase I deal intact, gold could reach $1420 and a sustainable bottom by Christmas. 

Silver markets rallied a bit during the week, breaking towards the $17.00 level before pulling back slightly. Currently, the market looks as if it is trying to consolidate a bit and decide its next move.

Crude oil markets rallied a bit during the week, into what muted trading. However, we have aggressively attacked of resistance, and at the end of the week it looks as if we will continue to see buyers make a stand.

Natural gas markets have gapped lower on Monday, reaching down towards the $2.20 level only to turn around and fill that gap. We have now filled that gap and now likely getting ready to set up for a bigger move.

The gold markets rallied a bit during the trading week, slamming into the top of the down trending channel. However, we have given back the gains from that area, so it makes quite a bit of sense that the market stays within this range.

Based on the early price action and the current price at 8495.75, the direction of the December E-mini NASDAQ-100 Index into the close on Friday is likely to be determined by trader reaction to 8465.25.

Stock markets went back and forth during the trading session on Friday as we got the initial agreement. At this point in time, the Americans and the Chinese will continue to push the markets around, as we are still light on a lot of the details. However, tariffs are not

The silver markets initially tried to rally during the trading session on Friday but gave back the gains yet again. With this, it continues to look very likely to continue going sideways, as there is no urgency to move in one direction or the other.

Crude oil markets have run into a significant amount of resistance during the trading session on Friday after showing a lot of promise. The US/China trade war has resulted in a signing of a “phase 1 deal” on Friday, but there is still a lot of uncertainty.

Natural gas markets pulled back slightly during the trading session on Friday, reaching towards the bottom of the range for the Thursday session but then bounced a bit. This shows a bit of rotation, and therefore it’s very important what happens next.

Gold markets rallied a bit during the trading session on Friday, reaching towards the 50 day EMA as the Americans and the Chinese have come to terms on an agreement it appears. This is a bit interesting, because it should be negative for gold.

Based on the early price action and the current price at 28129, the direction of the December E-mini Dow Jones Industrial Average futures contract the rest of the session on Friday is likely to be determined by trader reaction to yesterday’s close at 28131.

The USD/JPY pair rallied a bit during the week, as we continue to grind back and forth between the ¥108 level on the bottom and the ¥110 level on the top. All things being equal, the market looks likely to continue grinding forward until we can get some type of