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Commodities

Iron Ore Prices Plunge As China Factory PMI Slides

Iron Ore Gaps LowerWe’re seeing plenty of volatility in the iron ore market on Wednesday following the release of the latest China economic data overnight. The manufacturing PMI was seen dropping...

Upbeat US Data Warns about Premature Dollar Shorts

European currencies and gold embarked on a modest upside technical pullback as discussed yesterday:In the EURUSD pair, there was a false breakdown of the horizontal support at 1.07 during the last...

BCOUSD H4 | Bullish reversal from overlap support

TitleBCOUSD H4 | Bullish reversal from overlap supportTypeBullish BouncePreference:Price is falling towards the pivot point of 74.599 and could potentially reverse from here; we could see momentum...

XAUUSD H4 | Bounce off support level

TitleXAUUSD H4 | Bounce off support levelTypeBullish BouncePreference:Price has just bounced off from our pivot point of 1934.213 which is an overlap support level. A bounce off from here, price could...

Gold Prices Drop Sharply - Fed/US in Focus

Fresh Fed Rate Hike ExpectationsA resurgence in hawkish Fed expectations for the June meeting and beyond has fuelled a sharp rally in USD over the last week. On the back of last week’s FOMC minutes,...

Copper Bounces Off Lows, Will Recovery Continue?

Copper Fighting to ReboundCopper prices are fighting to get back above broken support today following a bounce off recent lows. Copper futures have been under heavy selling pressure over recent months...

Gold Forecast: Correction Underway?

Gold has approached the uptrend. However, the asset is likely to break the trend and head down due to the formed double top. Should the asset break the uptrend, it might rebound back to the broken...

XAUUSD H4 | React off resistance

TitleXAUUSD H4 | React off resistanceTypeBearish ReversalPreference:Price is rallying to our pivot point of 1957.181 which is an overlap resistance level that aligns with a 38.2% Fibonacci...

US Data Surprises on the Upside, Confirming Fed Concerns about Inflation Rebound

Core PCE for April confirmed market concerns that consumer inflation in the US is accelerating again:Overall, it is not surprising as top Federal Reserve officials complained about sustained high...