Day: February 17, 2024

TitleUS30 H4 | Potential bullish bounce TypeBullish Bounce Preference:The current price could reverse to the pivot at 38300.72, the overlap support that aligns with the 38.2% Fibonacci retracement. Price could bounce off the pivot and rise to the 1st resistance at 38884.06, the swing-high resistance. Alternative scenario: The price might continue to trend down and […]

Daily Market Outlook, February 16, 2024 Munnelly’s Market Minute… “Nikkei Heading For All Time Highs WIth Japan In Recession” The Nikkei reached a 34-year high, just shy of its all-time high of 38,957.44 points set on Dec. 29, 1989. The stock market in Asia has surged by 15% this year, following a 28% rally in […]

Gold Bounces on Weak USD The move lower in USD over the last 24 hours has helped gold prices bounce somewhat. Gold futures were seen falling to fresh lows on the year this week as hotter-than-forecast US inflation drives the Dollar higher. However, with yesterday’s retail sales seen plunging into negative territory last month, the […]

TitlePotential Bearish Reversal TypeBearish Reversal Preference:Price could rise towards the pivot point of 23.070 which is a swing-high resistance that aligns close to the 78.6% Fibonacci retracement level and potentially reverse from here; we could see momentum carry price down to its 1st support at 22.674 which is a pullback support level. Alternative scenario:If price […]