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Markets China’s stimulus announcement impacted all corners of the market. Hopes for a revival of the 2nd largest economy lifted commodity prices. Oil & iron prices both added around 2%. Equities rose with Europe’s EuroStoxx50 adding 1.1%. Wall Street had to digest an unexpected and sharp drop in the Richmond manufacturing index & US consumer […]

The post China-Sparked Asian Bull Run Continues This Morning appeared first on Action Forex.

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Equities Extend Rally on China Stimulus, Fed Cut Bets

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06/09/2024

Intraday Elliott Wave Expects Further Correction in Dow Futures (YM)

Short Term Elliott Wave in Dow Futures (YM) suggests that pullback to 38532 low on 8.5.2024 ended wave ((4)). The Index then turned higher and made a new all-time high in wave ((5)) as an impulse. Up from wave ((4)), wave 1 ended at 39619 and wave 2 pullback ended at 38689. The Index then […]
07/11/2024

Gold Price Takes Hit While WTI Crude Oil Eyes Upsides

Gold price is declining below the $2,700 support zone. Crude oil price is rising and it could climb further higher toward the $75.00 resistance. Important Takeaways for Gold and WTI Crude Oil Prices Analysis Today Gold price failed to clear the $2,800 resistance and corrected lower against the US Dollar. There is a key bearish […]
12/03/2024

Nikkei 225 Technical: At Risk of Shaping a Multi-Week Corrective Decline

Recent rapid gains seen in the Nikkei 225 are likely to be attributed to the highly anticipated positive outcome of Japan’s annual wage negotiations results. The expected increase in wage growth for FY 2024/2025 may have already been fully priced in by the Japanese stock market. Recent bearish elements sighted in the US S&P 500 […]