Key points Monthly ascending channelAugust Peak at $43,714 week trading cycleBullish trend with huge swings Prices are trading above the linear regression line in a sign of impressive bullish momentum. For a greater part of the last three months, prices have been...
Willard Kachere
Platinum Enters into an Ascending Channel.
Key Points $958.08 resistance regionMajor trend is bullishApproximately 2-month cycle Source; QEFxMoney Prices have managed to enter into a monthly ascending channel. It has been nearly 2 months when prices slipped out of the channel to retest a support at $858....
Platinum to Rise as Demand Outpaces Supply
Key Points Supply deficit is wideningInvestment demand on the riseAuto-Industry consuming more platinum by the dayHydrogen technology to drive platinum even higher. It could only be a matter of time before platinum prices start to rise as the precious metal is...
Palladium Rebounds After Dollar Weakness
Key Points Dollar weakens against major currenciesVaccine optimism causes some price set backTechnical analysis Palladium prices rose on last week, as the US dollar fell against its peers, amid optimism about the Covid-19 vaccines. The development of an effective...
Oil Stays Above $40 On Vaccine Optimism
Key Points Vaccine rhetoric shores up crude oilChinese economic data ignites hope of recoveryCoronavirus second wave in Europe and U.S.Technical analysis Pfizer Inc's (PFE; NYSE) vaccine, which is reported to be at least 90% effective is just pending more safety data...
Copper Futures Remains Strong Above $3,000 Per Ounce
Key Points Strong demand in ChinaSupply disruptions in ChileTechnical analysis China's Gross Domestic Product for the third quarter of 2020 rose by 4.9% year on year, against market expectations of a 5.5% rise. The Chinese economy is displaying impressive resilience...
Pound US Dollar Technical Analysis
Key Points Brexit and the PoundMonthly ascending line200 Moving Averaging indicating a health uptrendKey pivot points A summit of EU leaders to be conducted on the 19th of this month is now broadly regarded as the final deadline for a preliminary Brexit deal. The...
Gold Spot US Dollar Technical Analysis
Key Points Yearly ascending channel200 Moving Averaging indicating an uptrendKey pivot points < Gold prices remain on the back foot as bulls endeavor to find support at the $1849.04 region. Prices tumbled from $1969.53 (monthly highs) after the news that an...
Oil Climbs Beyond $40 Per Barrel On Vaccine Optimism
Key points Pfizer’s vaccine rhetoric drives up marketsOPEC + contemplating extended production cutsOil related stocksEIA oil storage report on Thursday not Wednesday due to Veterans Day in the U.S. Oil prices rallied as a result of the news that Pfizer’s vaccine is...
Silver is playing it safe above $22 per ounce.
Key Points Monthly ascending channelRising Moving AveragePivot Points The market fundamentals that are currently driving Gold are the same across the entire precious metals spectrum. Silver is recently hit $30 per ounce before falling back in a pennant towards the $22...
Recent Comments