Daily Pivots: (S1) 151.62; (P) 151.84; (R1) 152.18; More… USD/JPY’s rally is in progress and intraday bias stays on the upside for 153.26 resistance. Break there will resume larger rally from 139.87 to 100% projection of 142.66 to 150.90 from 145.47 at 153.71. Firm break there would prompt upside acceleration to 161.8% projection at 158.80. […]
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Daily Pivots: (S1) 0.7948; (P) 0.7961; (R1) 0.7973; More… Intraday bias in USD/CHF remains neutral and outlook is unchanged. With 0.7984 resistance intact, further decline is in favor. On the downside, below 0.7913 minor support will turn bias to the downside for 0.7872 and then 0.7828 low. Firm break there will resume larger down trend. […]
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Daily Pivots: (S1) 1.3313; (P) 1.3350; (R1) 1.3394; More… Outlook in GBP/USD is unchanged. Intraday bias remains neutral and fall from 1.3725 could extend lower. Break of 1.3247 will target 1.3140 cluster (38.2% retracement of 1.2099 to 1.3787 at 1.3142). Strong support is expected there to contain downside to complete the corrective pattern from 1.3787. […]
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Major US stock indices are modestly higher to start the new trading day. The Dow industrial average is up 0.10%. The S&P index is up 0.19%, and the NASDAQ index is up 0.14%. The small-cap Russell 2000 is leading with a gain of 0.65% after a couple of harsh days to the downside.
Tesla shares are trading down 4.18% after missing on EPS and revenues. IBM shares are lower despite beating on the top and bottom line. Shares are currently down -5.27%.
This article was written by Greg Michalowski at investinglive.com.
Gold is rebounding today after two straight days of sharp declines, trading up $46 (+1.13%) at $4,145. The session high reached $4,149.86, while the low touched $4,066.17.
Yesterday, the metal dropped for a second consecutive session, finding support near $4,004—just above the key psychological level at $4,000. That low held well above the 38.2% retracement of the rally from the late-July low at $3,955.77, which remains a critical support marker.
For sellers to regain control, a sustained move below $3,955.77 would be required. Until then, the broader uptrend remains technically intact.
This article was written by Greg Michalowski at investinglive.com.
Kuwaiti oil minister is on the wires saying that OPEC is ready to offset any shortage of the market by rolling back the output cuts. The price of crude oil has moved lower on the news and currently trades up around $2.85 at $61.35. The high price today was at $62.12. The low price was at $59.64.
Looking at the daily chart, the price rises today took the price above a swing area between $59.78 and $60.10 and onto the next swing area between $61.45 and $61.94. The price I did extend briefly above the high of that swing area but is now trading lower and testing the low of the swing area at $61.45. Move back below that level could see more selling momentum.
This article was written by Greg Michalowski at investinglive.com.
The Trump administration is raising the tariff rate quota for Argentina to 80K metric tons of beef from 20K. The goal is to reduce the price of beef to the US consumer.
Eat mor beef. The chickens like that idea.
This article was written by Greg Michalowski at investinglive.com.
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