The Elliott Wave charts of Copper Futures HG_F are indicating impulsive bullish sequences in the cycle from the 3.6592 low. This has led us to favor long positions at this stage, as buyers have been appearing at key levels in the market. A recent 3-wave pattern emerged when buyers entered right at the equal legs
Potential
The current price of Brent crude oil is facing a downturn, hovering around 82.55 USD per barrel, causing significant concerns in the market. The primary worry affecting the market is the uncertainty surrounding demand levels, which is putting pressure on the commodity. The recent comments made by US Federal Reserve representatives have heightened expectations that
The week is off to a positive start on Wall Street, with Dow futures edging higher and setting a positive tone for trading. As the market eagerly awaits the release of key inflation data, the trading ranges are expected to be narrow, indicating a cautious approach among investors. The recent optimism in the market has
Silver prices are constantly fluctuating in the market, impacted by a variety of factors that investors need to be aware of in order to make informed decisions. Understanding the dynamics of the silver market is crucial for those looking to diversify their investment portfolios and capitalize on potential opportunities. In this article, we will explore
The gold price (XAU/USD) started the new week on a positive note, hovering around $2,360 on Monday. This upward movement can be attributed to the rising geopolitical tensions in the Middle East, which have led to an increase in safe-haven flows benefiting precious metals. However, the hawkish comments from several US Federal Reserve (Fed) officials
The sensitivity to economic numbers in the market could have a significant impact on the USD/JPY pair. For example, the unexpected increase in the Michigan Inflation Expectations Index led to gains in the USD/JPY following the market reaction on Friday. This shows that investors are closely monitoring economic indicators to make decisions on the currency
It has been reported that Chinese companies have secured a significant number of bids in Iraq’s oil and gas exploration licensing round. As of now, Chinese companies are the only foreign players to win bids, acquiring licenses for 10 oil and gas fields. This dominance raises questions about the involvement of other international players in
Gold prices have shown resilience in 2024 despite a stronger U.S. dollar and hawkish sentiments from the Federal Reserve. While a firm U.S. dollar and hawkish Fed actions typically suppress gold prices, other supportive factors are driving the bullish outlook. The growth in global demand for gold is a crucial element impacting the market. Investment
Upon examining the monthly chart, it becomes evident that GBP is facing a significant hurdle at the high of $1.3142. This level, located close to the resistance of $1.3111, must be surpassed for a long-term uptrend to be established. Failure to breach this level could result in a downside target of $1.2173, which is currently
Ahead of the upcoming CPI numbers on 13 May 2024, investors are closely monitoring India’s retail inflation trends. Projections suggest that retail inflation is likely to remain steady at around 4.8% in April 2024, following a slight decline in March. There is a possibility that it could touch 5.0% year-on-year again, although estimates vary between
The recent downgrade in inflation forecasts by the central bank has added to the overall dovish tone in monetary policy decisions. The projections indicate that inflation is expected to reach the 2.0% target in Q2 of this year, with a subsequent increase to approximately 2.6% in the second half of the year. However, these figures
Investors closely monitor the Reserve Bank of Australia (RBA) chatter, especially in relation to the Aussie labor market. RBA Chief Economist Sarah Hunter is scheduled to speak later in the week, and her views on household spending, the labor market, and inflation could significantly influence investor sentiment regarding the RBA’s rate path. On Monday, attention
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