Oil has rallied to close the month above the key $33.55 level which was the post GFC low from back in Feb 2009. This has set the monthly chart up for a potential bounce off a bullish-reversal ‘Double Bottom’ level.
Gold is trading higher after the FOMC statement and my bullish TC signal is well advanced now. However, there are two longer-term bullish technical patterns still developing on Gold charts that are worth monitoring as the week draws to a close.
The construction equipment maker Caterpillar (CAT) is one of many large companies to report earning before the markets open on Thursday 28th Jan. Alibaba, Bristol-Myers Squibb, Valero Energy, Abbott Laboratories, Eli Lilly & Co and Potash Corp are a few others. CAT is trading near a major S/R level that may prove to be a launch […]
There are a lot of dire predictions circulating about stocks with RBS, as an example, advising clients to sell all but quality bonds. Technical support is holding for now on the major US index of the S&P500 and, IMHO at least, I think it would be prudent to wait and see where this index closes for […]
The US$ has essentially been range bound between 92.50 and 100 for the last 12 months. I keep waiting for the confluence of data that will shake the US$ out of this channel and wonder whether this might be the week for such a move to occur? Today, Wednesday, brings USD Private NFP, Trade balance and ISM Non-Manufacturing PMI […]