Latest Market News
ADP Up Next Today’s US ADP employment number will be the main data focus for traders. Coming ahead of the headline NFP event on Friday, the ADP data is typically taken as an indicator of whether the NFP is likely to undershoot or surpass expectations. ADP & NFP Correlation While data on the correlation between […]
Type: Bearish Drop Key Levels:Resistance:3.9600Pivot:3.6885Support:3.5545 Preferred Case:Looking at the H4 chart, my overall bias for HG1! is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to head back down towards the pivot at 3.6885 where the 61.8% Fibonacci line is. […]
Financing News Drives Stock Higher Shares in Chinese tech giant Alibaba are trading over 3% higher ahead of the open today. This comes on the back of a 15% move higher yesterday as the company’s shares gapped higher at the open. The lift in bullish sentiment is a reaction to the news that Chinese regulators […]
Oil Traders Increase Net-Longs The latest CFTC COT institutional positioning report shows that crude traders increased their net long positions by around 10k contracts last week. Total upside exposure now sits at 248k contracts, up from 238k contracts the prior week. Any recent longs will likely be struggling, however, on the back of the more […]
Type: Bearish Drop Key Levels:Resistance:4049.00Pivot:3914.00Support:3757.50 Preferred Case:Looking at the H4 chart, my overall bias for SPX is bearish due to the current price crossing below the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to continue heading towards the support at 3757.50, where the 161.8% Fibonacci line is. Alternative […]
Type: Bullish Rise Key Levels:Resistance:2671Pivot:2570Support:2470 Preferred Case:Looking at the H4 chart, my overall bias for CC1! is bullish due to the current price above the Ichimoku cloud , indicating a bullish market structure. If this bullish momentum continues, expect price to head back up towards the resistance at 2671, where the previous swing high is. […]