Forecasts & Analysis | Technical, Page

E-mini NASDAQ-100 Index futures posted a potentially bearish closing price reversal top on the weekly chart after hitting a new contract high earlier in the week. The chart pattern suggests the selling may be greater than the buying at current price levels. If confirmed by a trade through 7292.50, we

E-mini Dow futures settled slightly higher last week, bucking the trend of the other two major indexes. However, it also gave back most of its gains from early in the week. Volume was low and the range was tight. Earnings and revenue reports were supportive, but comments from President Trump

E-mini S&P 500 Index futures reached their highest level since February 2 last week before turning south and posting a potentially bearish closing price reversal top on the weekly chart. Strong earnings and revenue reports kept the rally alive early in the week, but investors decided it may have been

U.S. West Texas Intermediate crude oil futures had an up and down week before settling lower. Most of the damage to the downside was accredited to additional supply from Libya and speculation the U.S. may open its strategic reserve if prices were to rise too rapidly.For the week, September WTI

Gold futures finished lower last week after hitting its lowest level since the week-ending January 13, 2017.December Comex Gold futures settled at $1240.40, down $11.50 or -0.92%.The price action was primarily driven by the movement in the U.S. Dollar. The Greenback was pushed higher by hawkish testimony before Congress by

The Australian Dollar finished slightly lower last week, but the strong finish at the end of the week suggests upside momentum may be building. The trade last week can best be described as volatile and two-sided.The AUD/USD settled at .7418, down 0.0006 or -0.09%.The price action was primarily driven by

The S&P 500 has done very little during the week, but then again we have rallied roughly 100 points over the last handful of sessions. Because of this, I think the market is getting a bit exhausted, and now we are trying to churn to build up enough momentum to

Silver markets had a rough week, initially gapping lower on Monday, and then breaking towards the $15 level underneath. However, we have turned around of form a bit of a hammer, mainly due to the words of Donald Trump, suggesting that perhaps interest rates in America need to be kept

WTI Crude OilThe WTI Crude Oil market fell significantly during the week, touching as low as $67.30. It looks as if the negativity could continue, but as you can see on the chart I have an uptrend line that coincides roughly with the $66 level. If we break down below

If you want to trade natural gas from a longer-term standpoint, the first thing I would tell you is stick to the CFD market. Quite frankly, the futures market gets to be a bit expensive, unless you have the appropriate trade size. As you can see, I have four lines

We’ll markets initially fell during the week but found enough support near the $1215 level to turn around and form a candle that could be loosely translated as a hammer. That’s a good sign, and quite frankly the gold market is oversold so it would not surprise me at all

The US dollar has enjoyed a nice run higher against the Japanese yen during most of the year. However, we ran into a major resistance barrier in the form of the ¥113 level, which I believe extends to the ¥115 level. I do believe we eventually go higher but being

The British pound has taken a bashing over the last several weeks, as the Brexit negotiations are not going very well. Compounding that, the British government can’t seem to decide on what to do so it makes sense that Sterling fell. However, it seems as if there is a significant

The British pound fell during the bulk of the week, at least against the Japanese yen. The ¥145 level underneath looks to be important still, and I believe that there are plenty of value hunters underneath there to try to keep the market afloat. However, if we were to break

The EUR/USD pair continued to be very choppy during trading this past week, using the 1.15 level as support and the 1.1850 level above as resistance. We ended up forming a bit of a hammer, and that of course is a bullish sign, but we also have a lot of

The Australian dollar has found support yet again on a bounce from the 0.7325 region, as the 0.7350 handle looks to be the beginning of massive support. We have formed a hammer for the week, just like we did the week before and several weeks before that. Overall, I believe

The S&P 500 was very volatile during the trading session on Friday, reacting to the 2800 level as an area of significant support and resistance in the past. I think that the market is also reacting to tweets by Donald Trump, suggesting that the interest rate hikes coming from the

Looking at the longer-term charts, it makes sense that we bounced where we did. However, this was mainly predicated upon a tweet, and doesn’t necessarily mean that there is major demand quite yet. I think that pullbacks could be buying opportunities, just as a break above the $15.60 level would

WTI Crude OilThe WTI Crude Oil markets gapped lower to open up the Friday trading session. It’s obvious that there is a lot of bearish pressure here, I think at this point crude oil will probably continue to struggle. The US dollar continues to strengthen, and that of course works

Natural gas markets were a bit flat during the day on Friday, showing signs of exhaustion after an explosive move late on Thursday. I think that natural gas markets will continue to struggle overall with oversupply and of course the strengthening US dollar longer-term. I believe that the $2.70 level