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Commodities

Potential Bearish Breakout

TitlePotential Bearish BreakoutTypeBearish DropPreference:Price could fall towards the pivot point of 83.26 which is a potential breakout level and could drop lower from here; we could see momentum...

Copper Falls As USD Recovers

Copper Correction ContinuesCopper prices have come under heavy selling pressure on Wednesday with the futures market down almost 2% on the session so far. The weakness comes in response to the ongoing...

Bearish Momentum to Extend

TitleBearish Momentum to ExtendTypeBearish DropPreference:Price has made a bearish reversal, sell at the pivot point of 27.24; we could see momentum carry price down to its 1st support at 26.78 which...

Pullback Resistance at 23.6% Fibonacci Retracement

TitlePullback Resistance at 23.6% Fibonacci RetracementTypeBearish ReversalPreference:Price is rising towards the pivot point of 84.91 which is a pullback resistance that aligns with the 23.6%...

Heading into Pullback Resistance

TitleHeading into Pullback ResistanceTypeBearish ReversalPreference:Price is rising towards the pivot point of 2,324.58 which is a pullback resistance that aligns with the 38.2% Fibonacci retracement...

Daily Market Outlook, May 3, 2024

Daily Market Outlook, May 3, 2024Munnelly’s Macro Minute…“Huge Apple Buyback Boosts Markets Ahead Of Pivotal US Payrolls”On Friday, Asian stocks reached their highest level in 15 months, driven by the...

Gold Traders Brace For NFP Today

Gold Softer on FridayGold prices are trading a little softer on Friday as traders brace for the latest set of US labour market readings. The last three months’ worth of NFP results have each surprised...

Crude Sinking on Fading Middle East Fears

Middle East ImpactOil prices remain under pressure on Friday and are on course for their largest weekly decline in 3 months. Hopes of a ceasefire between Israel and Hamas are driving the selling in...

Downward Pressures Remain

TitleDownward Pressures RemainTypeBearish ReversalPreference:Price is rising towards the pivot point of 85.35 which is a pullback resistance that aligns with the 23.6% Fibonacci retracement level and...