Market Observations

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By SGT Trading Desk / 29 May 2023

The main theme of the past week has been the debt ceiling negotiations, and at the time of writing it appears that there is an agreement in principle (big surprise there!). Legislators need to put this in place and sign off on the final agreement before the 5th of June deadline.

SGT Market Observations

It’s all well and good making a few bucks, but what then?

By Tony Westfallen / 25 May 2023

As mentioned in my previous reports, I covered my short position on BTC at the 27000 level. I would not be surprised if we saw this decline extend further, but I’d rather cash out and see what happens next.

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By SGT Trading Desk / 22 May 2023

The U$ index saw a rally last week as the markets followed the debt ceiling negotiations ahead of a 1st June deadline. This will probably end up being another political event, with a solution found just before D-Day.

SGT Market Observations

Try not to get fooled by analysts and traders who are out to abuse you

By Tony Westfallen / 17 May 2023

I am pleased that I came into the investment business when we paid brokers for advice, as if I had to rely on the stuff issued across social media, I would never learn a thing.

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By SGT Trading Desk / 15 May 2023

After the spike above the down trendline, the market has sold off and we are now seeing a period of consolidation. Currently holding above the 50-day moving average, as the market digests the economic landscape.

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By SGT Trading Desk / 08 May 2023

After selling off to below 33,000 earlier in the week, the market has turned up and looks like it wants to retest the trendline resistance. The market is digesting FOMC and the latest employment data.

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By Martyn Price / 01 May 2023

Many market participants are talking about the retest of the broken weekly trendline and that this could present a good USD turning point.

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By Martyn Price / 24 Apr 2023

After a choppy range bound week, we can see the market testing the short-term uptrend line, currently around 4110/15 area. A break here would put a test of the 4070 level.

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By SGT Trading Desk / 17 Apr 2023

Inter-market analysis can be extremely helpful in building out a technical picture across asset classes. Last week we saw potential completion of a 5 wave up moves in EUR/USD and XAUUSD, and a series of outside day* chart patterns, technical divergences or indicators rolling over across other markets.

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By SGT Trading Desk / 11 Apr 2023

Happy Easter all! The major theme across asset classes has been a consolidation of recent ranges, with the exception of the surprise OPEC production cuts, oil gapping up at last week’s open and silver breaking out from a series of lower tops with trendline resistance breaking at the 24.10/15 area.