Weekly forecast, May 22 – 26, 2023 Uptrend scenario An uptrend will start as soon, as the market rises above resistance level 73,81, which will be followed by moving up to resistance level 76,74. Downtrend scenario The downtrend may be expected to continue, while market is trading below resistance level 73,81, which will be followed […]
Commodities
Commodities
Commodities
22
May
May
Wheat can reach 669 resistance level
Weekly forecast, May 22 – 26, 2023 Uptrend scenario An uptrend will start as soon, as the market rises above resistance level 625, which will be followed by moving up to resistance level 669. Downtrend scenario The downtrend may be expected to continue in case the market drops below support level 593, which will be […]
19
May
May
USD/INR Price News
USD/INR seesaws around 82.75-80 as it prints minor gains amid early Friday in Europe, after refreshing an eight-week high to 82.85 the previous day. In doing so, the Indian Rupee (INR) pair justifies the market’s cautious mood ahead of top-tier events amid mixed clues at home. While portraying the mood, S&P500 Futures struggle to refresh the […]
19
May
May
WTI Price Analysis
WTI crude oil picks up bids to print 0.50% intraday gains near $72.50 as it appears well-set to snap a four-week downtrend amid early Friday. In doing so, the black gold rises inside a one-week-old symmetrical triangle. Given the quote’s successful trading past an upward-sloping trend line from the last Wednesday, near $71.95 by the […]
19
May
May
Morning Market Re-Cap
Japanese yen is one of the best performing G10 currencies today following a beat in CPI data for April. USDJPY is pulling back and looking towards a test of a recently-broken resistance zone at 138.00. Source: xStation5
19
May
May
Gold Futures Decline Appears Contained
Open interest in gold futures markets shrank for the third session in a row on Wednesday, this time by around 104.K contracts according to preliminary readings from CME Group. Volume, instead, kept the erratic performance well in place and this time went up by more than 17K contracts. Gold meets support near $1950 Gold prices retreated […]
17
May
May
Market Re-Cap
NIKKEI 225 index is one of the best performing indices. Price is near the all time high level at 30,500 points.
16
May
May
Todays Economic Calendar
Futures markets at the start of the session in Europe point to a lower opening of the stock exchanges. The weaker sentiment may be attributed to the declines in the Asia-Pacific region following the release of macroeconomic data. Today’s calendar is relatively busy with various events. Investors will receive US retail sales data, which is […]
16
May
May
The Morning Market Update
The composite index for China’s economy reflects a decline in daily data, indicating consecutive decreases in the recent weeks. This index combines data on metro traffic, port congestion, box office revenue and various other daily indicators of China’s economy.
09
May
May
Chart of The Day
Gold price continues its bullish trend trajectory on Tuesday. The price of gold is currently trading around $2,030 per ounce, which is a +0.41% daily change. The upward trend channel has provided continuous positive support to gold prices – marked with dark blue parallel lines. The stochastic indicator is beginning to gather positive momentum, indicating a […]