Ahead of the RBA decision tonight the AUDJPY has broken key support as the China/US trade negotiations apparently are strained.
Following up on Sunday’s blog post (read it HERE), crude has now broken below the horizontal support area and the ascending channel’s support (both confluenced at $63.75).
The SPX closed at the key uptrend line of the ascending wedge, and based on the bearish engulfing candle on the daily chart, it looks like a move lower from here is in the cards near term.
Crude Oil is quite a peculiar instrument to trade, given that its supply side has been managed for decades. If we look at a multi-year chart, there was a very evident move which happened in 2014. The drop from over $100 to $40 was very sharp and relentless, and it was driven mostly by the […]
After multiple tests of a multiyear wedge’s resistance the Swissy has finally broken out today.