Tag: tickmill
Daily Market Outlook, February 9, 2024 Munnelly’s Market Minute…“SPX Tips Over 5k” Many Asian markets observe holidays today, with those open displaying mixed but relatively minor fluctuations. Anticipation surrounds potential further stimulus measures in China. A European Central Bank official remarked that this year could see interest rate cuts if no adverse events occur, yet […]
TitleUSDJPY H4 I Falling to a pullback support TypeBearish Reversal Preference:Price is rising toward the pivot point of 149.49, which aligns with a 61.8 % Projection + 161.8% Extension. A reverse from this level could lead the price to fall to 1st support at 148.83, a pullback support level. Alternative scenario:If price breaks above the […]
Copper Under Pressure Copper prices remain under pressure today, despite the lift in Chinese stocks on the back of weak China data overnight. CPI and PPI were both seen falling again in the world’s second largest economy last month. The data adds to fears that the Chinese economy is deteriorating and has prompted speculation of […]
Fresh Earnings Beat Shares in Uber are trading a touch softer ahead of the US open today. The stock was seen rallying around 6% yesterday ahead of Q4 earnings which came out after the bell. Uber posted a beta on earnings and revenues once again, marking the fifth consecutive quarter of earnings growth. The Numbers […]
Daily Market Outlook, February 8, 2024 Munnelly’s Market Minute…“SPX Eyeing 5k” Asian stocks exhibited a mixed performance following Wall Street’s attainment of new record levels, with the S&P 500 nearing 5,000. The Nikkei 225 approached 37K handle driven by positive earnings reports, and SoftBank gained momentum after Arm Holdings’ post-earnings surge. Meanwhile, the Hang Seng […]
CPI & PPI Fall Again Further signs that the Chinese economy is in trouble were seen overnight with the latest CPI reading marking the fastest decline in 15 years. CPI printed -0.8% last month, down from -0.3% prior and below the -0.5% the market was looking for. The data marks the biggest drop since 2009 […]
In the midst of the midweek trading session, the EURUSD pair maintains a firm stance above the 1.0750 mark, refusing to relinquish its modest gains. A tug-of-war between the Euro and the US Dollar ensues, with the latter grappling to garner demand following a slight retracement on Tuesday. Despite marking its second consecutive day of […]
Weak US Helps Oil Crude futures are currently undergoing a shallow recovery rally helped by a mid-week pull back in the US Dollar. Softening US yields have seen USD trading lower on Wednesday, allowing commodities and other risk assets some room to climb. Oil prices suffered a heavy 9% loss last week as fresh strength […]
TitleHeading into 38.2% Fibonacci Resistance TypeBearish Reversal Preference:Price is rising towards the pivot point of 0.61551 which is a pullback resistance that aligns close to the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.60888 which is a pullback support level. […]
TitlePotential Bearish Reversal off 50% Fibonacci Retracement TypeBearish Reversal Preference:Price is rising towards the pivot point of 0.65386 which is a pullback resistance that aligns with the 50.0% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.64920 which is a pullback support […]