Home › Market News › Markets Trade Sideways Ahead of Earnings and Fed Meeting
Futures markets traded relatively sideways Monday ahead of the Fed’s two-day economic policy meeting and expected earnings from some big names like Microsoft, Alphabet, Visa, Texas Instruments, Starbucks, GM, etc.
The Phil Flynn Energy Report
India’s Covid-19 nightmare impacts oil prices and may cause OPEC+ to cut back production of oil instead of standing pat. The tales of human suffering from India are heartbreaking, and hospitals turn patients away as new cases of Covid-19 are breaking records.
Emotional capital: a required yet rarely-perfected resource that every trader must manage to be successful. Think of emotional capital as the psychological or mental assets you hold. How do you think they affect the trades you’re in.
Roughly 75% of U.S. stock investors wouldn’t be subject to an increase in the capital gains tax rate due to the types of accounts they own, according to UBS.
Since early March, crude oil futures prices have been contracting and forming what looks to be a textbook Symmetrical Triangle pattern. Analysts typically consider symmetrical triangles to be trend continuation patterns, so with the recent underlying trend pointing higher, we would expect to see a breakout to the upside. While a test of the lower trendline in the daily chart above would be healthy for confirmation of the pattern, it is not necessary.
A lot is going on in the world right now that’s affecting the price of crude oil. So, it’s essential to keep an eye on the news for any fundamental factors that could potentially reinforce your technical analysis of this market.
