2020

The S&P500 index was seen giving up the gains after prices rose to a weekly high of 3293.1. Prices turned bearish following a bearish engulfing pattern that emerged on Thursday’s close. Following this, price action continued lower to…
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Last week’s highlights Australia Retail Sales Rise in June Retail sales in Australia continued to expand, albeit at a slower pace in June. Data showed that retail sales grew at a pace of 2.4% in June, comparing to the 16.9% increase in…
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Oil prices are now trading flat with the range between 41.00 and 42.00 established. After failing to breakout above the 42.00 handle, oil prices pared gains. But support at 41.00 is holding up for now. This could keep prices somewhat…
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The precious metal ended Friday above the 1900 level for the first time since 2012. Price is now about $19 away from the all-time highs in 2011. The weekly gains are also the best since March this year. The bullish momentum in gold…
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The British pound sterling resumed its upside following a brief consolidation earlier IN the week. Price is now just a few pips away from the key technical resistance of 1.2813. A close above this level will see GBPUSD rising to a…
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The common currency closed the week with one of the strongest gains in over a month, closing at 1.1655. It also marks a fifth consecutive weekly gain. Looking at the long term charts, price is now trading in the resistance area between…
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Did you know why we witnessed a bearish reversal in equities? Despite seeing upbeat earnings from Tesla and Microsoft, US-Sino tensions and rising Covid-19 cases have led to heavy selling. Will equities recover to fresh all-time…
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The SPX500 structure hints at a bullish impulse. It consists of primary sub-waves ①-②-③-④-⑤. The first four parts of the 5-wave pattern are complete, whereas wave ⑤ is currently under development. With waves (1)-(2)-(3) completed, we…
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Shares in US airliner American Airlines are trading slightly higher pre-market on Friday following a better than expected loss in Q2. The group posted losses of -$4.82 per share versus expected losses of -$7.84 per share. Revenues were…
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This quarter is going to be quite different than the last one. There is growing confidence that at least economically we're not going to have a "second wave", and Q3 will be the quarter for recovery. That means that there are some…
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