Forecasts & Analysis, Page

The Futures markets are pointing to a bullish start to the European session. Corporate earnings, FOMC member chatter and Trump could impact…

It’s a bearish start to the week, with support levels in play should DASH fail to move back through to $110 levels…

It’s back into the red for the majors in the early hours. There could be a bounce-back should key levels be avoided going into the afternoon.

Manufacturing in June surged more than expected

Natural gas inventories rise in line with expectations

Gold closes at 6-year high

Based on today’s price action and the current price at 27207, the direction of the September E-mini Dow Jones Industrial Average into the close is likely to be determined by trader reaction to the downtrending Gann angle at 27205.

Based on the early trade and the current price at $1430.60, the direction of the August Comex gold futures market the rest of the session on Thursday is likely to be determined by trader reaction to a pair of Gann angles at $1427.60 and $1426.90.

The delicate balance of forces at the Fed has been disturbed. The doves grew stronger recently, and with new governors coming, their strength may increase even further. Will gold warm up to them?

The stock markets rally just a bit early during the trading session on Thursday, recovering a little bit of the loss that we have expense over the last several sessions.

Silver markets continue to look strong overall, but during the day on Thursday we have given back a significant amount of the gains. At this point, the $16 level has been important, and should continue to be so.

Crude oil markets try to rise initially during the trading session on Thursday but then turned around to show signs of weakness yet again. This is a market that continues to struggle in general, as the fundamental outlook for the market is getting weaker.

Natural gas markets rallied slightly during the trading session on Thursday, using the $2.30 level as support. As such, it looks as if we may get a little bit of a bounce, but it should be short-lived.

Gold markets pulled back a bit during the trading session on Thursday as we continue to see a lot of volatility. The area above the $1425 level continues to be difficult.

The US dollar pulled back a bit against the Japanese yen during the trading session on Thursday but found enough support at the 61.8% Fibonacci retracement level to bounce significantly.

The British pound rallied significantly during the trading session on Thursday, reaching towards the psychologically and structurally important 1.25 handle. However, we have pulled back from there just a bit as I record this, so it makes sense that perhaps the downtrend continues.

The British pound initially fell against the Japanese yen during the trading session on Thursday but turned around to bounce rather significantly. That of course is a good sign, and it looks as if we are going to go testing a major figure just above.

The Euro went back and forth during the trading session on Wednesday and followed the same path during the day on Thursday. Quite frankly, we just don’t have anywhere to be at this point, and therefore it’s probably a short-term scalping type of market.

The Australian dollar rallied a bit during the trading session on Thursday but still faces significant resistance just above. With that being the case it looks as if we are about to take on a serious level in the market that could change things going forward.

The British Pound was thrown a lifeline this morning after UK retail sales rebounded unexpectedly in June, thanks to a rise in sales of antiques and second-hand clothes.