Forecasts & Analysis | Technical, Page

Based on the early price action, the direction of the AUD/USD the rest of the session is likely to be determined by trader reaction to the Fibonacci level at .7153.

DASH sees a bullish start to the day but faced resistance early to ease back. A break back through to $79 levels would give DASH a run at $80.

Cold weather buoys Natural gas

Soft US and Chinese Data is Helping to Buoy Gold Prices

The S&P 500 rallied significantly during the week, reaching towards the resistance above at the 2800 level. We have not broken above there yet though, so I think that we could be up for a serious fight soon.

Silver markets fell during most of the week but did find support towards the end of the day on Friday, showing signs of hope. At this point, we have a couple of things to pay attention to determine where we go next.

Crude oil markets rallied significantly during the trading session on Friday to send this market above what has been massive resistance. Because of this, I think that the market is poised to go higher as we have been flirting with that level for quite some time.

Natural gas markets continue to grind during the week, going back and forth between a couple of levels. We are at extraordinarily low pricing at this point though, so it’s very likely that we need to see some type of bounce to start selling. As far as buying is concerned,

Gold markets fell a bit during the week but found support underneath the turn things around and form a bit of a hammer. The hammer of course was preceded by another one, showing just how resilient the market has been.

The S&P 500 rallied a bit during the trading session on Friday, breaking above the resistance that we had seen over the last couple of days. Overall, this is a market that I think continues to be bullish in the short term, but we have major issues just above.

Silver markets gapped higher on Friday in the futures pits as we have seen a significant amount of support show up on Thursday and bouncing off of the uptrend line. Beyond that, there are couple of moving averages in a round number that you should be paying attention to.

The crude oil markets rallied significantly on Friday, breaking above resistance barriers during the process. However, the question now is whether or not we can stay above here?

Natural gas markets did very little during the day on Friday, as we continue to grind sideways. We are just above a major support level, so keep that in mind.

Gold markets rallied a bit during the trading session on Friday after initially gapping higher. We found plenty of resistance above, so we pulled back just a bit. One thing is for sure, it seems as if the buyers are very aggressive when it comes to gold.

The US dollar rallied again during the week, breaking towards the 61.8% Fibonacci retracement level. However, we are starting to run into a bit of resistance, which of course makes sense as the Japanese yen is a bit of a safety currency.

The British pound has fallen again during the week but is testing a rather important area on the chart that could cause a lot of market reaction, if we can get the proper headlines right along with it.

The British pound went back and forth during the Japanese yen during the trading week, as we continue to see a lot of noise out there. However, we have recently seen a massive turnaround, and I think it is going to be crucial to the future of this market.

The Euro drifted a bit lower during the week as we continue to see concerns about the German economy and the global economy as well. Ultimately, I think that the market does have a significant amount of support underneath though.

The Australian dollar went back and forth during the week but continues to find support at the same level that we have been paying attention to for some time. Because of this, I think that we do have more of an upside risk than anything else.

Bitcoin and other major crypto coins have managed to retain positive action across the week and range bound action is likely to continue across the day.