First Inventories Draw in 7 Weeks Crude prices are starting to build some bullish momentum here. After early weakness on Monday, crude futures have now recovered around 5% off the week’s lows and are fast approaching a fresh test of the YTD highs. Futures pushed firmly higher yesterday in response to the latest data from […]
TitleRising into Swing-high ResistanceTypeBearish ReversalPreference:Price is rising towards the pivot point of 85.085 which is a swing-high resistance that aligns with the 127.2% Fibonacci extension level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 81.892 which is a pullback support that aligns with the 38.2% […]
Daily Market Outlook, March 14, 2024 Munnelly’s Macro Minute… “Markets Await Last Pieces Of The Data Puzzle Ahead Of Next Week’s FOMC Meeting” In response to mixed signals from global markets, Asian stock markets are also experiencing mixed trading on Thursday. Traders are exercising caution and staying on the sidelines as they await key U.S. […]
TitleEURJPY H4 | Potential bullish breakout TypeBullish Bounce Preference:EURJPY is sitting on the pivot point at 161.757, which is the overlap resistance. Price could break above the pivot and rise to the 1st resistance at 163.451, the swing-high resistance. Alternative scenario:It might break below the pivot and fall to the overlap support at 160.263, which […]