Page 43 - Christopher Vecchio News Today

Copper Price Forecast: Technicals Stabilizing, Fundamentals in Question Advertisement Copper Price Outlook: Copper prices have almost staged a meaningful recovery in July. Just not quite yet as more technical resistance remains overhead. The demand side hasn’t recovered since news out of China that the government would release industrial metals stockpiles to cool their respective rallies. Trading is a function of both price and time; the technical uncertainty can be resolved either through a ...

Gold Price Forecast: Still in the Technical Woods - Levels for XAU/USD Advertisement Gold Price Outlook: Gold prices have staged a modest recovery over the past week, but remain deep in ‘the technical woods.’ With a cluster of Fibonacci levels above, it would appear that gold prices aren’t out of ‘the technical woods’ until 1835 is achieved. According to the IG Client Sentiment Index, gold prices have a bullish bias in the near-term. Questions Remain Gold prices have enjoyed a small b...

Crude Oil Gains to Persist; Stocks to Stay on Their Rocket: Q3 Top Trading Opportunities Advertisement Q3 Top Opportunities Overview: Despite some twists and turns, the first half of the year was indeed about the growth story, and heading into 3Q’21, it appears that the tune will remain the same. The long US equities story is set to continue into the second half of the year. As long as the bull case for global growth remains, then energy should be in strong demand. Growth Story Remains Strong...

Gold Q3 Fundamental Forecast: Outlook Deteriorates for Gold Prices Advertisement Q3 Gold Forecast Overview: Shifts in the US Treasury yield curve, on balance, suggesting a period with stronger short- and intermediate-term rates, has been consistent with a stronger US Dollar and weaker gold prices. The expectation that the combination of loose monetary policy and expansionary fiscal policy will soon end has started to strengthen, for two main reasons. Over the past five years, gains by US real y...

Both AUD/JPY and AUD/USD have traded sideways to lower in recent weeks. Are the sideways consolidations topping patterns or flags?

The June Fed meeting is likely to see policymakers moving from ‘potentially talking about discussions about tapering’ to the actual ‘discussions about tapering.’

British Pound Technical Analysis: GBP/AUD, GBP/CAD, GBP/NZD Rates Advertisement The Sterling-commodity currency crosses remain rangebound, as they have for many months now. GBP/AUD rates remain the most interesting of the three GBP-crosses reviewed in this report, continuing to linger below multi-decade trendline resistance. According to the IG Client Sentiment Index, the British Pound has a mixed bias. Range Trading Persists More rangebound price action in the British Pound may not be a surpr...

The US Dollar (via the DXY Index) saw all of its weekly gains evaporate following the May US nonfarm payrolls report as US Treasury yields receded.

USD/CNH rates have experienced a more significant technical breakdown than their EUR/CNH counterpart.

Gold prices have held above multi-month bull flag resistance, increasing confidence that a march back to all-time highs has begun.