Bullish bias for TASI-4014: SCIENTIFIC & MEDICAL EQUIPMENT HOUSE - 2 DEC 2024. Buy at 52.1 with Stop Loss at 47.5. TP-1 AT 56 and TP-2 AT 59.
Graphite stock. Strong volume today at breakout. 3.5 year base. Measured move $1.30
The first full week of December places the spotlight on US jobs data. Employment metrics from the ISM (Institute for Supply Management) manufacturing and services PMIs (Purchasing Managers’ Indexes) land on Monday and Wednesday, respectively, JOLTs data (Job Openings and Labor Turnover Survey) airs Tuesday, ADP jobs numbers (Automatic Data Processing) are out Wednesday, weekly unemployment claims on Thursday and, of course, the employment situation report makes the airwaves Friday. In addition to US numbers, CPI inflation data (Consumer Price Index) from Switzerland, GDP (Gross Domestic Product) numbers from Australia, and Canadian jobs figures are released this week. Fed Expected to Cut by 25 Basis Points According to the latest market pricing, investors are leaning in favour of the US Federal Reserve (Fed) reducing the target on the funds rate by another 25 basis points (bps) over a no-change decision at the next meeting on 18 December. US inflation remains ‘sticky’ north of the Fed’s 2.0% inflation target, with YY (year on year) CPI inflation rising to 2.6% in October from 2.4% in September, YY PPI inflation (Producer Price Index) rising to 2.4% from 1.9%, and YY PCE data (Personal Consumption Expenditures), according to a report released last week, elbowed to 2.3% from 2.1%. Core YY CPI inflation – excludes food and energy prices – remained at 3.3%, core PPI inflation rose to 3.1% from 2.9%, and core PCE data rose to 2.8% from 2.7%. So, while inflation has slowed considerably since the pandemic, inflationary pressures show evidence of stubbornness. PCE data, the Fed’s preferred measure of inflation, is holding just north of 2.0%, and core PCE has stalled around the 2.8% mark amid increased consumption, particularly in services. This week’s US job numbers will be critical and is the last employment report before the Fed rate announcement. These data will provide a fresh perspective on the health of the world’s largest economy and help determine the trajectory of the Federal funds rate. According to data from Refinitiv, following the economy adding 12,000 new payrolls in October – influenced by the recent hurricanes and strike activity – the median estimate for the November non-farm payrolls data is 190,000, with a max/min estimate range between 270,000 and 160,000. The unemployment rate is also expected to have ticked higher to 4.2% in November from 4.1% in October, with average earnings growth expected to slow on both MM (month on month) and YY measures. According to Q3 24 data released last week (second estimate), US economic activity (GDP) remains resilient, running at an annualised pace of 2.8% and was primarily underpinned by personal consumption. With the economy resilient, should job creation report higher-than-expected numbers and unemployment decline, investors could re-evaluate the prospect of a rate cut later this month and lift the US dollar (USD) and US Treasury yields. US Dollar Index Ahead of Data While the USD caught an early bid off the back of President-elect Donald Trump’s tariff threats, the Dollar Index – a geometrically weighted average of the USD’s value against a basket of six currencies – concluded the week on the back foot down 1.6% and dominantly snapped a three-week bullish phase. With scope to continue exploring higher terrain on the monthly chart until resistance from 109.33, the recent correction positions price action at technically noteworthy daily support between 105.48 and 105.80. Couple this with the area sharing chart space with channel support, extended from the low of 100.18, and the Golden Cross – the 50-day simple moving average (SMA) crossing above the 200-day SMA, which suggests a long-term bull market could be on the table – in addition to the USD’s current trend and room to punch higher on the monthly scale, this support area could be a zone that buyers make a show from. Written by FP Markets Market Analyst Aaron Hill
For most of last week, gold exhibited choppy price action. As outlined in my Thursday analysis: "Gold could recover Monday's losses in a choppy manner, forming a flag pattern with resistance around 2660." This prediction held true in the end and, after a brief spike above the resistance level, gold began its decline. At the time of writing, the price is trading at 2624, just above short-term support. Looking ahead, I anticipate this support level will break, paving the way for a drop toward 2590 and 2575- a level that aligns with the measured target of the flag pattern. My strategy remains to sell rallies, using last Friday's high as a key resistance point for positioning.
I believe healthcare will be the next rotation coming out of this tech bull run. Using the Trade Jeanie (Jeanius Screener/Indicator), I was able to see the current technical buy signals happening on AMEX:XLV : Took out an untested low Price touching 21EMA while the 9EMA > 21EMA Retested a level that was broken to create a break of structure (BOS & Retest) The Jeanius Indicator shows green 'Combo' labels every time this same combination of signals happened
Hello traders and investors! The seller has returned the price to the range on the weekly timeframe (see the related post). The price is now below the upper boundary of the range at 106.952. We are monitoring the 106.083 level. If the buyer breaks through and defends it, it would be reasonable to look for buying opportunities. However, if the seller defends this level, selling will be the priority. You can use the 4-hour timeframe for monitoring. Good luck with your trading and investments!
MartyBoots here , I have been trading for 17 years and sharing my thoughts on ADA here. ADA is looking beautiful , very strong chart for more upside Very similar to XRP which is up nearly 30% increase from the new monthly level Do not miss out on ADA as this is a great opportunity Watch video for more details
As you can see the dominance of BTC is weaker in the last 2 weeks right now the up trend is over for a short period the market will take some profit of BTC and finding a new ALT to gain more profit.
PEL Fut broke out of flag pattern on an hourly charts with good OI additon. Could be bought with mentioned stoploss & targets.
A descending triangle is evident, with the price testing both support A premium vs. discount zone is marked, with the premium region representing overbought levels near resistance and the discount zone being lower, potentially signaling buy interest. BOS (Break of Structure) and ChOCH (Change of Character) labels indicate potential shifts in market momentum or trend continuation. Critical Levels: High zone around $98,688: Significant resistance area in the premium region. POI (Point of Interest) and PDL (Previous Day Low): These levels (around $96,850 and $94,000) are marked as potential reaction zones. Equilibrium: Midpoint of the recent range, acting as a balancing point. Indicators: RSI (Relative Strength Index): Divergence or oversold/overbought signals may influence reversals. Volume: Not shown but implied to confirm price action. Possible Outcomes: Bullish Scenario (Upward breakout): The price breaks above the descending resistance line. Potential targets: $98,688 (High zone). $100,665–101,000 (next resistance if momentum builds). Confirmation: Break of recent high and sustained movement above POI. Bearish Scenario (Downward breakout): The price breaches the lower support line. Potential targets: $95,000 (PDL and equilibrium). $93,000 (next strong support). Confirmation: Strong momentum candle below PDL, possibly accompanied by a new BOS. Range Continuation: The price continues oscillating between $96,000–98,000 within the triangle. Look for consolidation until a breakout occurs. Strategic Notes: Watch for Volume: A breakout with significant volume adds reliability. RSI Divergences: Can hint at exhaustion in the current trend. Risk Management: Place stop-losses slightly above/below invalidation zones.