Month: May 2024

Gold price is correcting lower after touching an all-time high of $2,450 on Monday.  Acute bearish divergence on the daily chart could indicate a deeper correction may follow.  The pullback appears to be driven by central banks communicating a reluctance to lower interest rates.  Gold price (XAU/USD) retreats to the $2,410s on Tuesday as commentary
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This is a market that is waiting to get its fix. And that fix lies in big data. In between those events, it’s a really dull one and today is no different. Once again, major currencies are lacking any real appetite with dollar pairs keeping within 0.1% change to one another. The ranges outlined below
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Australian Dollar weakened broadly during Asian session as its recent rally lost momentum. Despite RBA minutes revealing that a rate hike was considered earlier this month, which should have been supportive for the Aussie, this positive sentiment was countered by weak consumer sentiment readings. Additionally, Aussie seemed to be weighed down by a pullback in
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Another earnings report, another sell-off in extended trading for Palo Alto Networks . But like the two releases preceding Monday night’s results, we’re looking at the decline as buying opportunity for long-term investors. Revenue during the cybersecurity company’s fiscal 2024 third quarter increased 15% year over year to $1.985 billion, beating the consensus estimate of
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Global financial markets are trading with a risk-on sentiment today, starting from the Asian session and continuing through the European and early US sessions. However, gains in stocks have been relatively limited, partly constrained by recovery in benchmark treasury yields, and partly capped by low trading activity. In the currency markets, positions have shifted somewhat
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CVX Elliott Wave Analysis Trading Lounge Daily Chart, Chevron Inc., (CVX) Daily Chart. CVX Elliott Wave technical analysis Function: Trend. Mode: Impulsive. Structure: Motive. Position: Minor wave 1.   Direction: Upside in Minute {v}.   Details: Looking for a top in Minor wave 1, to ideally break previous wave B top at 171$ to give us additional upside
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