Forecasts & Analysis | , Page 6
E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Strengthens Over 9637.25, Weakens Under 9546.75
Based on the early price action and the current price at 9602.25, the direction of the March E-mini NASDAQ-100 Index into the close is likely to be determined by trader reaction to the pair of 50% levels at 9637.25 and 9547.00.
E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Major Downside Target 28824 – 28654
Based on the early price action and the current price at 29043, the direction of the March E-mini Dow Jones Industrial Average the rest of the session on Thursday is likely to be determined by trader reaction to a pair of Gann angles at 28937 and 29031.
S&P 500 Price Forecast – Stock Markets Continue to Show Strength
The US stock markets continue to show resiliency overall, although it was a bit quiet during the trading session on Thursday. The market currently covers just below the 3400 level, and I think we are trying to build up the necessary pressure to break above it.
E-mini S&P 500 Index (ES) Futures Technical Analysis – Next Downside Target 3350.50 to 3339.50
March E-mini S&P 500 Index futures are drifting lower in a lackluster trade shortly after the cash market opening on Thursday. Aggressive buyers chased the market higher early in the session in reaction to strength in Asia and Europe, but prices retreated soon after.The catalysts underpinning the market are a
Silver Price Forecast – Silver Markets Continue to Press Resistance
Silver markets spent most of the day falling on Thursday but did find buyers eventually near the $18.25 level to turn around and show signs of trying to break out in becoming an impulsive move to the upside.
Crude Oil Price Forecast – Crude Oil Markets Continue to Show Recovery
The crude oil markets rallied again during the trading session on Thursday, as the markets had been oversold. At this point, we are seeing a deceleration of new cases of coronavirus in China, at least as far as official numbers are concerned.
Natural Gas Price Forecast – Natural Gas Markets Struggling With Big Handle
The natural gas markets have pulled back just a bit during the trading session on Thursday, awaiting for some type of directionality when it comes to the overall inventory. Ultimately, this is a market that is continuing to struggle with oversupplied.
Gold Price Forecast – Gold Markets Continue to Show Strength
Gold markets initially pulled back a bit during the trading session on Thursday, but then shot higher as we got close to the $1600 level. Ultimately, this is a market that is trying to break out to the upside and therefore continue the longer-term uptrend.
Crude Oil Price Update – Breakout Over $54.20 Could Trigger Surge into $55.31; EIA Report on Tap
Based on the early price action, the direction of the April WTI crude oil market the rest of the session on Thursday is likely to be determined by trader reaction to the 50% level at $54.20.
USD/JPY Price Forecast – US Dollar Rallies Again Against Japanese Yen
The US dollar has rallied a bit during the trading session on Thursday, reaching towards the ¥112 level. The ¥112 level is an area where we had sold off rather drastically, and most clearly the market is a bit overbought.