Gold is one of several assets that have seen heavy selling in the past half-hour. Gold has quickly turned a $50 gain into a small loss in a near-vertical drop. Elsewhere, strong gains in US equities have faded as well with a 0.5% rally in the S&P 500 fading to 2%. Bitcoin is also being hit with selling as…
China Foreign Exchange Reserves (MoM) below expectations ($3.36T) in November: Actual ($3.346T)
Many traders and investors saw the seemingly aggressive bearish reversal for gold on Friday and are wondering if we have a double top. Perhaps a start of a major bearish reversal? Gold futures 4hr chart with 20EMA and RSI at the bottom Gold has been one of the most followed markets this quarter, and for two years now, actually,…
We have been monitoring the SP500 (SPX) to reach approximately 7120 in an Elliott Wave (EW) Principle impulse (five-wave) move upward from the early April lows for a more significant top for many months. Within this uptrend, we have recently been tracking a minor 4th wave correction since early November, which we found to have ended late November: “…Therefore,…
The EURUSD is trading to new session lows and in the process is breaking below 3 technical levels: 100 day moving average at 1.1644 100 hour moving average at 1.1641 The broken 38.2% retracement at 1.16398 The combination of those 3 now set a ceiling level (risk level) for traders looking for more downside. Stay below keeps the sellers…
The Dow Jones Industrial Average (DJIA) made slim gains on Friday, climbing another 150 points and ending a moderately bullish week near the 48,000 handle. US Personal Consumption Expenditures Price Index (PCE) data, despite being from September, helped bolster market confidence that the Federal Reserve (Fed) will be delivering a third straight interest rate cut on December 10. The…
Treasury Secretary Bessent is out with a good review of the China trade detente. He said the had a constructive call with He Lifeng today about the implementation of the agreement between Xi and Trump. He said it is “going well”. This article was written by Adam Button at investinglive.com.
United States CFTC S&P 500 NC Net Positions fell from previous $-145.3K to $-1501K
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you…
Eurozone CFTC EUR NC Net Positions: €1073K vs €111.8K
