Key Gold Resistance Level
Gold has rebounded solidly this year but continues to stall at key resistance between $1220 and $1235. Until futures establish above that level, the outlook remains neutral with a downside bias.
Author Archive for: Tyler Richey
Entries by Tyler Richey
Dollar Downtrend
Near term, the dollar index is in a steep down trend that began at the turn of the year. Longer term however, the broader trend in the market remains a bullish one for now.
The Oil Market: Then and Now
The Oil Market: Now and Then We have included in today’s report a chart that was featured in a Forbes article yesterday regarding the two main influences on the oil market right now: rising US output and OPEC/NOPEC production cuts. At first look, the chart suggests that using hindsight as a gauge, US production lags […]
S&P Holds Key Support Level
The S&P 500 fell sharply to start the day yesterday, but a late day rally saw the index reclaim an important support level at 2280 by the Wall Street close.
Crude Oil Breakout
WTI crude oil futures broke out of a multi-week trading range yesterday and closed just shy of a new 2017 high as a sellers-strike continues ahead of data releases that could confirm (or discredit) proposed global output cuts.
Stock Market Update: January 26, 2017
Here is a “Stock Market Update” from The Sevens Report: Stocks finally moved Tuesday, as the S&P 500 staged a modest rally following good economic data and well received (but not really positive) political headlines. The S&P 500 rose 0.66%. Stocks were flat to start Wednesday trade thanks to generally “ok” economic data from Europe […]
S&P Chart: Strikes New All-Time High
S&P Chart: “A new high” is the oldest confirmation signal of a bull market in technical analysis and the S&P reached a new all-time high yesterday leaving the path of least resistance higher still from here.
WTI Futures: Technically, Oil Is Still Trending Higher
WTI Futures: Oil has been trading sideways for two months as traders weigh rising US production against potential compliance failures among global producers who have committed to cut production. But, the technical outlook remains bullish.
10 Year Treasury: January 23, 2017
10 Year Treasury: The greenback ended a volatile week little changed as the Dollar Index dropped more than 1% last Tuesday after now-President Trump called it “too strong.” Then a hawkish tone from Yellen on Wednesday, and dovish comments from ECB President Draghi Thursday, helped reverse that initial decline. The Dollar Index ended the week […]
The Next “Trump-Off” Gold Target
Gold futures have stalled at resistance just above the $1200 mark as money flows largely shifted back into “Trump-on” mode yesterday. But, if things go back to “Trump-off” the rally could extend to $1300/oz or higher.