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Commodities

Copper Hits 2yr Highs on USD & China News

Copper Breaks OutCopper prices were seen breaking out to their highest levels in two years today. A combination of a weaker US Dollar and developments within the Chinese macro backdrop have helped...

Daily Market Outlook, May 10, 2024

Daily Market Outlook, May 10, 2024Munnelly’s Macro Minute…“Jobless Claims Uptick Boosts Rate Cut Hopes Supporting Risk Sentiment ”The Asia-Pacific equity markets showed overall optimism following a...

Gold Testing Highs As Dollar Sinks

Gold Pushing HigherGold prices are pushing firmly higher into the end of the week with gold futures now once again testing the bull channel highs and 2364.93 resistance. The driver behind the move is...

Gold Forecast: Potential Price Drop Ahead

The price of Bitcoin broke the local downtrend. Currently, it keeps moving within the range. The price of this asset might potentially rebound from the broken downtrend and rise to the level of 69000....

Daily Market Outlook, May 9, 2024

Daily Market Outlook, May 9, 2024Munnelly’s Macro Minute…“Bank of Japan Hawkish Rhetoric Does Little To Support JPY, Bank Of England On Deck Next”The Asia-Pacific equity markets are showing mixed...

Crude Rallies on Surprise EIA Drawdown

Crude Stores FallOil prices are turning higher into the back end of the week with crude future bouncing off support at 77.64.  The catalyst behind the bounce was yesterday’s EIA inventories release...

Crude Pushes Lower Ahead of EIA Data

Middle East UncertaintyOil prices are continuing to trade lower through the middle of the week, despite ongoing uncertainty over Israeli military operations in Rafah. Reports that ceasefire talks have...

Daily Market Outlook, May 8, 2024

Daily Market Outlook, May 8, 2024Munnelly’s Macro Minute…“Japanese Officials Mute A Policy Shift Aimed To Support JPY”Overnight, equity markets experienced a period of consolidation following recent...

Overlap Resistance at 38.2% Fibonacci Retracement

TitleOverlap Resistance at 38.2% Fibonacci RetracementTypeBearish ReversalPreference:Price is rising towards the pivot point of 2,330.72 which is an overlap resistance that aligns with the 38.2%...