Commodity Prices

Gold •290 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	977.00	-3.10	-0.32%
WTI Crude •2 days	64.68	+2.21	+3.54%
Gasoline •2 days	2.099	+0.055	+2.71%
Ethanol •290 days	2.161	+0.000	+0.00%
Silver •290 days	30.82	+1.16	+3.92%

Silver • 290 days	30.82	+1.16	+3.92%
Copper • 290 days	4.530	+0.111	+2.51%
Brent Crude • 2 days	67.96	+2.11	+3.20%
Natural Gas • 2 days	3.245	-0.002	-0.06%
Heating Oil • 2 days	2.152	+0.037	+1.74%

Headlines

674 days Will The ECB Continue To Hike Rates?
675 days Forbes: Aramco Remains Largest Company In The Middle East
677 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,076 days Could Crypto Overtake Traditional Investment?
1,081 days Americans Still Quitting Jobs At Record Pace
1,083 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,086 days Is The Dollar Too Strong?
1,086 days Big Tech Disappoints Investors on Earnings Calls
1,087 days Fear And Celebration On Twitter as Musk Takes The Reins
1,089 days China Is Quietly Trying To Distance Itself From Russia
1,089 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,093 days Crypto Investors Won Big In 2021
1,093 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,094 days Food Prices Are Skyrocketing As Putin’s War Persists
1,096 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,097 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,100 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,101 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,101 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,103 days Are NFTs About To Take Over Gaming?

Trader Compares Current Market Environment To 2007

It’s a mistake to view…

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Is The Bull Market On Its Last Legs?

This aging bull market may…

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

More Info

Contact Author

GBP/USD - Short-Term Retracement

By - May 30, 2016, 7:11 AM CDT

GBP/USD is still bouncing back from 1.4700. The pair has failed to reach hourly resistance at 1.4770 (03/05/2016 high). Hourly support is given by the lower bound of the uptrend channel and by 1.4404 (15/05/2016 low). Expected to show renewed bullish momentum toward resistance at 1.4770.

The long-term technical pattern is negative and favours a further decline towards key support at 1.3503 (23/01/2009 low), as long as prices remain below the resistance at 1.5340/64 (04/11/2015 low see also the 200 day moving average). However, the general oversold conditions and the recent pick-up in buying interest pave the way for a rebound.

Daily Technical Report