|Day's range||1,503.00 - 1,507.90|
Silver markets fell significantly during the trading session on Monday to kick off the week but have found buyers underneath the turn things around and show signs of life again at a large, round, psychologically significant figure.
Crude oil markets rallied a bit during the day on Monday, but quite frankly they are heading towards significant resistance above that should continue to come into play. With that in mind I’m looking for Shorty opportunities given enough time.
Gold markets fell a bit during the trading session on Monday, to reach down and test the $1500 level. By doing so, the Gold markets look as if they are going to continue to attract a lot of money. At this point, I think gold is going to continue to show strength.
The British pound fell a bit during the trading session on Monday to kick off the week, as the Brexit continues to cause major issues. Ultimately, it looks as if the downtrend should continue. With that in mind I continue to sell signs of exhaustion.
The British pound went back and forth during the trading session to open the week on Monday, as we continue to see a lot of questions about the Brexit. Beyond that, we have a certain amount of concern when it comes to global economics.
The Euro tried to rally during the trading session on Monday but has continue to find resistance just above. By selling off after trying to rally, it shows just how soft the Euro truly is.
Based on the early price action, the direction of the September E-mini S&P; 500 Index the rest of the session on Monday is likely to be determined by trader reaction to the short-term 50% level at 26215.
Look for a potential upside bias to begin on a sustained move over $2.226 and for the downside bias to resume on a sustained move under $2.132.
Based on the early price action, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the short-term Fibonacci level at 1.1112.
Stocks retraced some of their recent declines on Friday, as investors’ sentiment improved following bouncing off the short-term support level, economic data releases. The S&P; 500 index continues to trade within a consolidation. Is this a bottoming pattern or just a flat correction before another leg down?
A weekend attack on a Saudi oil facility by Yemeni separatists sends oil prices higher. Here's a rundown on big winners and losers from the oil price rally.
Gold prices could weaken for several days as traders trim positions ahead of the start of the central banker symposium at Jackson Hole, Wyoming.
Gold and silver are trading down on Monday as investors are betting on riskier assets such as equities and currencies. XAU/USD is testing the 1,490 area, while silver is trading below the 17.00 area.
Over the weekend, White House economic adviser Larry Kudlow said trade deputies from the United States and China would speak within 10 days and could advance negotiations over ending the trade dispute between the two economic powerhouses if those talks pan out.
The price action suggests traders have a limited bias early in the session. However, holding above the pivot at .6740 suggests a support base may be forming.
Powell will essentially have to talk tough in an effort to calm the financial markets. If he misses then he may actually trigger more volatility in the stock markets that could send investors back into the Japanese Yen for safety.
The week will start with mixed weather conditions. NatGasWeather points out blistering conditions in Texas and out West, but cooler-trending weather outlooks for the rest of the country.
On Friday, October WTI crude oil settled between a pair of 50% levels at $53.95 and $55.72. Since the trend is down, we’ll look at it from the short-side perspective. Based on the close at $54.81, the direction of the market on Monday is likely to be determined by trader reaction to the main 50% level at $55.72.
Based on last week’s price action and the close at .6425, the direction of the NZD/USD on Monday is likely to be determined by trader reaction to the pivot at .6483.
The main trend is up according to the daily swing chart. A trade through 98.700 will signal a resumption of the uptrend. A move through 96.980 will change the main trend to down.
The S&P; 500 has been very noisy during the week, breaking down towards the 50 week EMA before bouncing. It this does show a bit of conflict, which after the last couple of weeks might be a good thing.
The Australian dollar has chop around during the week, showing signs of exhaustion, as the Australian dollar of course continues to suffer at the hands of the US/China trade war which seems to only be getting worse.