IC Markets

2021-07-27 08:35:57 #GOLD (Intraday perspective: Bearish pressure to 1,782.97)
Gold price broke down from the triangle pattern where we potentially expect the price to drop towards our support at 1,782.97, in-line with 61.8% Fibonacci retracement and 100% Fibonacci extension. RSI is also indicating bearish momentum for further downside. If price bounces, it will swing towards resistance at 1,816.00, in-line with 78.6% Fibonacci retracement, 61.8% Fibonacci extension and descending trendline resistance. Open / Comment

2021-07-27 08:34:13 #DXY (Intraday perspective: Bullish from 92.558)
Prices are bouncing off the horizontal swing low support, in line with the channel, 78.6% Fibonacci extension, and may rally up to the strong Fibonacci confluence area, in line with the channel, 161.8% Fibonacci retracement and 161.8% Fibonacci extension. If prices break below the support, it may take support at the horizontal swing low support, in line with 161.8% Fibonacci retracement and 127.2% Fibonacci extension. Furthermore, stochastic is bouncing off the hidden support. Open / Comment

2021-07-27 08:33:38 #Risk sentiment is largely risk-on, Asian shares made slight gains early Tuesday as traders assessed extensive losses in Chinese stocks fueled by Beijing’s regulatory crackdown on education tech companies as well as another record close for the US stocks. U.S stock futures are steady after the S&P 500 hit a new high. The Nasdaq and Dow Jones also ended at all-time highs. Oil resumed gains as investors bet the global demand recovery will remain intact, holding at around $74.6 per barrel. 10-Year US Treasury yields steady at 1.3%. Open / Comment

2021-07-26 07:16:58 #UKOIL (Intraday perspective: Downside potential below 74.50)
Price pushed higher from last Friday before drifting sideways. As long as prices are capped below 74.50 resistance, a short term drop towards 72.34 support could be possible. Otherwise, breaking above 74.50 will see price swing towards the next resistance at 76.68. Bearish divergence is seen to be forming on Stochastics as well. Open / Comment

2021-07-26 07:16:18 #GOLD (Intraday perspective: Neutral, waiting for breakout of the triangle pattern)
Gold price flirted below the ascending trendline before rebounding to close at 1,802 last Friday. We are awaiting to see which direction the price action breaks out. If it breaks down, it will swing towards support at 1,782.97, in-line with 61.8% Fibonacci retracement and 100% Fibonacci extension. If price bounces, it will swing towards resistance at 1,816.00, in-line with 78.6% Fibonacci retracement, 61.8% Fibonacci extension and descending trendline resistance. Open / Comment

2021-07-26 07:15:45 #DXY (Intraday perspective: Bullish from 92.726)
Prices are bouncing off the horizontal overlap support, in line with 61.8% Fibonacci retracement and 50% Fibonacci extension, and may rally up to the strong Fibonacci confluence area, in line with the 127.2% Fibonacci retracement and 100% Fibonacci extension. If prices reverse off the resistance, it may take support at the horizontal overlap support, in line with 127.2% Fibonacci retracement extension. Furthermore, EMA is holding below prices, and MACD is holding above the 0 line, further supporting our bullish view. Open / Comment

2021-07-26 07:14:24 #Risk sentiment is largely risk-on, as most Asian stocks rose early Monday after U.S. equities rallied to an all-time high boosted by strong corporate earnings, though investors are also mulling China’s crackdown on Education technology stocks and an upcoming Federal Reserve meeting. Futures slid in Hong Kong, where an index having exposure to China’s internet giants becomes the world’s worst-performing major tech gauge. Treasury yields steady at around 1.27%, oil prices steady at around 73.94 per barrel. Open / Comment

2021-07-23 08:48:58 #UKOIL (Intraday perspective: Downside potential below 74.50)
Price pushed higher overnight, surpassing previous resistances. Currently, prices have moved too far too fast. We see limited upside for oil prices. As long as prices are capped below 74.50 resistance, a short term drop towards 72.34 support could be possible. Otherwise, breaking above 74.50 will see price swing towards the next resistance at 76.68. Open / Comment

2021-07-23 08:48:28 #GOLD (Intraday perspective: Neutral between 1,812 to 1,795.50)
Gold price flirted below the ascending trendline yesterday before rebounding back to 1,808. We are awaiting to see whether the price action can break down from the triangle pattern. RSI is also facing bearish pressure from the descending trendline resistance for further downside. If it breaks down, it will swing towards support at 1,782.97, in-line with 61.8% Fibonacci retracement and 100% Fibonacci extension. If price bounces, it will swing towards resistance at 1,815.50, in-line with 78.6% Fibonacci retracement, 61.8% Fibonacci extension and descending trendline resistance. Open / Comment

2021-07-23 08:46:33 #DXY (Intraday perspective: Bullish from 92.726)
Prices are bouncing off the horizontal overlap support, in line with 50% Fibonacci retracement and 78.6% Fibonacci extension, and may rally up to the strong Fibonacci confluence area, in line with the 127.2% Fibonacci retracement and 100% Fibonacci extension. If prices reverse off the resistance, it may take support at the horizontal overlap support, in line with 161.8% Fibonacci extension. Furthermore, EMA is holding below prices, and MACD is holding above the 0 line, further supporting our bullish view. Open / Comment