Dow Jones formed a possible double top at the 35,000 area, and the move lower triggered a risk-off environment. Yet, the recent decline is not severe enough to scare bulls. After all, the index is only a few percentages off its record highs. What is interesting is that the decline […]
Financial markets started the trading week in a risk-off move, mainly driven by the bearish price action seen in the crude oil price. The price of oil formed a head and shoulders pattern, just confirmed by the recent drop. Moreover, as the measured move was confirmed, the bearish reversal might […]
The German Dax index fell off a cliff at the start of the trading week, down sharply following the bearish close seen last week in the US equity indices. The Dax currently trades at 15,200 and looks weak ahead of the European Central Bank (ECB) decision next Thursday. Moreover, the […]
Bitcoin price continues to consolidate above $30,000, but the sentiment remains bearish. Every bounce is shallower and unable to break the previous lower higher. Thus, a break below the $30,000 level spells trouble for the price for Bitcoin, as bears would likely target the measured move of a descending triangle. […]
The GBP/USD pair failed found strong support at the 1.38 area in the last couple of weeks. It keeps trying to break lower but fails every time. However, the bounces are shallow, and the price action resembles a contracting triangle that could break either way. The bias remains bearish because […]
The crude oil price had one of the most remarkable comebacks in financial markets history during the COVID-19 pandemic. The drop below zero at the start of the pandemic remains historic, but so does the bounce. At the current levels, though, the price of oil has met dynamic resistance. The […]
The EUR/USD pair is the most popular on the FX dashboard. It reflects the differences between the monetary policies in the United States and the Euro area. It also reflects the economic differences between the two, rising and falling, based on the economic performance. The European single market is made […]
Bitcoin bulls suffered another blow yesterday. The price is under renewed pressure as Fed Chair Powell dedicated a good part of his semiannual testimony to cryptocurrencies. More precisely, during his remarks, he said that the market should expect a report on a digital dollar from the Fed as early as […]
The US inflation runs hot, as seen by the YoY data released yesterday. It reached 5.4%, well above the Fed’s target and definition of price stability. Later today, Fed Powell’s semiannual testimony will focus on convincing its audience about the need to maintain the accommodative measures in place. But it […]
BlackBerry stock price nearly halved in the last month, dropping from as high as $20 to close to $11. The move lower followed a triangle that acted as a reversal pattern, and, on the retest of its lower edge, short-sellers entered the market aggressively. The current bearish price action holds […]
