Technical Analysis

Down seven cents or -0.09% The price of WTI crude oil futures are settling at $75.16. That’s down seven cents or -0.09%. The high price reached $75.62. The low price extended to $74.41 Looking at the hourly chart below, the price has been fluctuating up and down trading today as the OPEC+ meetings continue without a

NASDAQ closes at a record and so does the Dow… The S&P index is up for the seventh straight day and closes at a record level once again.  It is the 7th record high close for the S&P.   The NASDAQ index also closed at a record today that is the second consecutive record close for

GBP/USD under technical pressure below 1.3800 Invest in yourself. See our forex education hub. The range for today remains a bit more subdued going into European trading but the pair is now holding near the lows @ 1.3753 with the dollar keeping steadier so far. The firm break below 1.3800 yesterday was the first since

Nasdaq lags and closes marginally higher The major US indices are closing the day higher with the S&P index leading the way. The S&P index is up for the six consecutive day and closes at a record level. New highs 214 versus new lows of 11 Dow closes near session highs Dow up for the third

The pound not getting any love as BOE governor Bailey plays down persistent inflation pressures Invest in yourself. See our forex education hub. Cable got a decent bounce off 1.3800 yesterday amid dollar strength, moving back up to 1.3830 levels, but that is quickly fading at the moment in a drop to 1.3794. While the

S&P closes at a record high The US stocks are ending the session mixed with the Nasdaq down, and the Dow and S&P higher.  The S&P closed at a record high. Today is month end, quarter end and the end of the 1st half of the year.  The numbers for each are showing:  S&P is

Not a whole lot of action though The dollar continues to hold its ground on the week as it inches a little higher across the board, though this is perhaps just some stretching for the ranges of the day. It has been a relatively quiet start to proceedings, with EUR/USD resting in a 25 pips

All major indices close higher The S&P in NASDAQ are both closing at record high levels S&P close higher for the fourth consecutive day Dow is up 185 points at the highs for the day. Give up most of those gains NASDAQ up for the second straight day The Dow industrial is on track for

Major currencies still mostly little changed The greenback is keeping steadier for a second day running as it claws back some losses from last week, though the ranges for the day are still relatively narrow. EUR/USD is down 0.1% to 1.1906 while GBP/USD backs away from a test of key near-term resistance levels yesterday here

Dow lags as Boeing, Chevron, AMEX slumps The S&P and NASDAQ index closed at record high levels and near highs for the day. Facebook shares gave the NASDAQ index a boost in the last few hours of trading as the district court dismissed the FTC antitrust case against Facebook (up 4.18%). Intel (up 2.81%) PayPal (up

GBP/USD up 0.4% to 1.3940 to start European trading The pound is among the early movers to start the day as cable jumps up from 1.3900 to 1.3940 but faces a bit of near-term resistance from the confluence of the key hourly moving averages @ 1.3928-34 currently. There was a decent retracement last week that

Price dipped below the March low at $776 The price of lumber has moved to the downside today and in the process is moving away from its 200 day moving average at $867.67 (green line in the chart below). It is also falling below the 61.8% retracement of the move up from the April 1 low at $817.60.  

Runs away from its 100 hour moving average now The price of bitcoin tried to move above its 200 hour moving average earlier in the day. Yesterday, there was another attempt above that moving average but both tries failed. Since failing today, the price has been stepping down in a steady fashion. More recently, the price fell back below its

The low today was lower than yesterday’s but above the low on Wednesday The USDCAD reached its high this week on Monday at 1.24863. That high was also the highest level since April 26, and took out the high from last week at 1.24801. However, that new high was only 6 pips above the April

Nasdaq 3 day string of record closes snapped The US major stock indices are closing mixed with the Dow leading the way. The S&P closed higher for the 2nd consecutive day. The Nasdaq snapped it’s three day of record closes with a modest loss.  S&P index rose 14.33 points or 0.34% at 4280.81 NASDAQ index

AUD/USD analysis The Australian dollar perked up earlier today, hitting 0.7617 but it’s given it all back on USD strength due to rising yields. It’s now trading flat on the day at 0.7585. For me, this is the most-interesting chart at the moment because it captures the uncertainty in the US dollar, risk appetite and

Dow rises over 300 points and leads the way with a gain close to 1% The major indices saw solid gains across the board with the Dow industrial average leading the way after Pres. Biden and a group of 20 centrist senators agreed on a $1 trillion infrastructure plan. The NASDAQ and S&P index both closes higher and at

Only a 29 pip trading range The USDCHF has not had a lot of price action today. Apart from the AUDUSD which only has a 26 pip trading range for the day, the range for the USDCHF is next lowest at 29 pips. Looking at the hourly chart, the high price today was able to extend above the 100