After bouncing off of an uptrending Gann angle several weeks ago, Royal Dutch Shell (RDS.A), formed a main bottom at $60.62 that was confirmed by the last week’s solid rally. This week this support angle moves up to...
Read MoreExxon Mobil, stock symbol XOM, reversed course on the weekly chart to post a solid gain on Friday. The rally helped form a new main bottom at $77.13 while setting up the market for a potential test of the series of main tops...
Read MoreThe S&P Select Energy ETF (XLE) rallied sharply higher on Friday, helping to form a new main bottom on the weekly chart at $61.11 and putting the market in a position to breakout above seven weeks of highs. Weekly XLE...
Read MoreAugust crude oil prices soared on Friday as traders scrambled to cover shorts after European leaders stabilized the region’s banking system, triggering a massive shift in investor sentiment. Although this news event was...
Read MoreThe September Euro futures contract is surging this morning after Euro-leaders agreed to relax conditions on emergency loans for Spanish banks. This news also opens the door for a similar aid package for Italy. The decision...
Read MoreThe September British Pound is under pressure this morning as traders square up positions ahead of the start of the two-day European Summit on Thursday. The uncertainty over the outcome of the meeting has caused a choppy,...
Read MoreThe September Australian Dollar fell on Monday as traders shed risky assets in a typical “risk-off” trading session. Concerns about Europe once again controlled the trade. Investors initially began selling early in...
Read MoreLast week after a two-day meeting, the U.S. Federal Reserve basically told investors that the economy we have right now is the economy we’re stuck with for the rest of the year. In relaying this message, the FOMC sharply...
Read MoreLast week the September British Pound ran into resistance at 50% of the break from 1.6276 to 1.5266. This price level is 1.5774 with the high reaching 1.5773. Additionally, the market also tested a steep downtrending Gann angle...
Read MoreFollowing a sharp break on Thursday, the September Canadian Dollar is currently testing an uptrending Gann angle from the .9554 bottom at .9694. In addition to this angle, the market is checking the strength of a 50% price level...
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