Technical Analysis

WTI crude futures are settling $68.35 up $0.74 or 1.09%. The low price today reached a $65.71. That was just above the low price from yesterday at $65.65. The high price today reached a $69.38. The 52 week high for crude oil comes in at $123.68. Looking at the daily chart, the swing low going

The GBPUSD buyers have successfully pushed the price above its 100-hour moving average at 1.21129, reaching a new intraday high of 1.2127. Examining the hourly chart above, it’s clear that breaking above the 100-hour moving average took some effort. The market initially attempted this during the European morning session but failed. The price started it’s

The GBPUSD experienced a decline today amid increased dollar purchases in European currencies . This shift drove the price of the GBPUSD below the 100-hour moving average and the 100-day moving average (currently at 1.2032), ultimately reaching the 200-hour moving average at 1.20087. Today’s low price halted just above the 200-hour moving average at 1.20093.

The WTI crude oil futures price settled at $67.61, down $3.72 or 5.22%. Currently, the price hovers near $68, still significantly lower but recovering from the day’s low of $65.65. At that low, the price had dropped by $5.68, reaching its lowest point since early December 2021. Examining the hourly chart, the recent price highs

The GBPUSD moved higher yesterday to start the trading week. The low on Monday was down at 1.20658, but in the NY session moved to new highs, breaking above swing highs from back on Feb 21 and Feb 28. Since then (the last 28 hours), the price action has been between 1.2134 and 1.22028. That

The NZDUSD has recently entered a consolidation phase, poised between an upper swing area and a lower one. The upper boundary encompasses a range of 0.6250 to 0.62639 (highlighted by red numbered circles in the accompanying chart), with the 100-day moving average positioned nearby at 0.62488. As the new trading day unfolds, this moving average

The USDJPY is reacting higher on the back of the move off lows in yields. The 2 year yield (see chart above) moved back up to 4.266% from an intraday low just below 4.00% at 3.997%. The yield is now only down -37 basis points. It was down close to -60 basis points at the

The major European stock indices are closing sharply lower. The major indices could not dodge the bullet that the US indices are seemingly getting through despite the fact that the focus of the banking crisis is a centered in the US. However, these types of things always have the potential to spread. Moreover the European

The Silicon Valley Bank issues are spilling over into other financials. The S&P financial index is currently down -2.15% at 544.07. The low-price rate 540.13. Technically, at the low the price, the index tested the 61.8% retracement of the move up from the October 14 low to the February 7 high. That retracement level comes

The Dow Jones Industrial Average (DJIA) is one of the most widely recognized stock market indices in the world. It tracks the performance of 30 large-cap American companies and is often seen as a barometer of the overall health of the US economy. In this Dow Jones futures video, i duscuss the technical analysis of

The USD is moving to new session lows against all the major currencies. The dollars declines are the greatest versus the CHF and the GBP (see chart above). The USDCHF is now down close to -1.55%. The greenback is lower by -1.52% against the GBP. The USDCHF tumble is the largest one-day decline since November

The USDJPY has just reached a low of 134.104. That is getting closer to the natural support at 134.00. It is also within a swing area (see red numbered circles) between 134.068 and 134.15. That area was defined by swing levels going back to February 20, 21 and 24 (before basing and moving higher on

The price of WTI crude futures are settling at $76.68. That’s up $0.96 or +1.27% The low today reach $74.77. The high extended to $77.11. The lower dollar/lower rates help to send the price back to the upside. Other commodities also gained with gold up $36 or 1.99%. Silver was up $0.42 or 2.13%. For

Canada also released jobs data today. It was a better than expectations, but the SVB news defined the price action. That sent the flight into the safety of the USD. The USDCAD moved lower, but the low on the hourly chart above, stalled at the trend line connecting the low from Wednesday and Thursday. It

As the stock market moves toward the close at the top of the hour, the three major indices are below their 200 day moving averages: Dow Industrial Average fell below its 200 day moving average of 32392.57. It currently trades at 32321.35. The Dow Industrial Average is now well below its closing level from 2022

In the morning forex report (if you don’t watch it daily, you should), I spoke to the swing area for the EURUSD between 1.0578 to 1.0585 (and up to the 38.2%). Buyers – if they were to push higher – needed to get above that area. The high price today stalled against the high of

The software/application industry is a major contributor to the technology sector, with several US-based public companies operating in this space. Among the largest-cap companies in this industry, we used Finviz and have identified 13 of the biggest market cap, public companies, within the US software/application industry, for a quick valuation analysis. To help readers with

As the Chair Powell testimony continues, the US 10 year yield moved down to test a floor level going back to February (see hourly chart above). That floor comes near 3.90%. The low today reached 3.899%. The yield has moved higher and trades back at 3.952%. The 200 hour MA at 3.964% and the 100