OIL PREPARES FOR CORRECTION AND IS ABOUT TIME
April WTI has a base at $60 now and is poised to test the $63-$64 a barrel area.  The RSI and MACD are more supportive than the Slow Stochastic. The close was strong just above $62 and above the five and 20-day moving averages (~$61.50 and $61.70).   It is hard to get excited about the 10-year Treasury yield.  It is moving sideways after rising earlier.  The yield has a base near 2.80% and mostly has stayed below 2.90%, but has briefly poked above 2.95%.  This translates into a range of about 119-16 to 120-24 in the futures market.  This sideways movement mutes the technical signals.  This seems to favor continued range trading.
 Equities have absorbed the rising rates and flare up of rivalries between the leading industrial economies on trade.  The NASDAQ gapped higher to register new record highs before the weekend.  It will begin the new week with a six-session advancing streak in tow.  The S&P 500 also gapped higher before the weekend after the strong (except for wages) jobs report.  – MARCTOMARKET.

BARGAIN HUNTERS CATCHES THE GOLD BEFORE THE WEEKEND – BUT PRESSURE DOWN AWAITS THIS WEEK. 

That same catchphrase could be used for the estimates economists gave this week for the Labor Department’s Jobs report. The median estimate created through a survey of economists came in at 205,000. The actual numbers reported by the Labor Department today show that the U.S. economy’s growth was so robust last month that it added 313,000 new jobs. This marks the most massive hiring spree since the middle of 2016. It demonstrates that the economy has been robust and, more importantly, growing. The net result of these numbers was that U.S. equities and bond yields moved higher and at the same time, safe-haven assets such as gold moved lower. First, today’s jobs report certainly put downside pressure on gold. Immediately following the release of today’s report, gold traded moderately lower to $1,313 per ounce. However, prolonged wage growth of only 2.6% dampened the selloff as traders bid gold’s pricing back above its open, closing at $1,324.20. Read More @ http://www.kitco.com/commentaries/2018-03-09/Gold-Reacts-to-Three-Distinct-Events.html

CHINA AND XI RULES FOR LIFETIME – WILL THIS HAPPEN? THEN CNY WILL BE AS POWERFUL AS THE USD A MATTER OF TIME – IF THOUGH THE ECONOMIST THINKS OTHERWISE.

Debt worries

China’s total debt has increased rapidly since the global financial crisis. By the middle of last year, it was more than two and a half times the value of the entire Chinese economy, according to the Bank of International Settlements. Xi and other top officials have talked about reducing risks in the financial system. But analysts say the government hasn’t yet taken real steps to cut debt, which could do serious damage to the economy if left unchecked.

WHAT ARE CHARTS SAYING?

High Risk Investment Warning:

Please note that Forex and other leveraged trading involves significant risk of loss, It is not suitable for all traders and you should make sure you understand the risks involved, it is recommended that you seek an independent advice, if necessary

1 Comment
  1. storno brzinol 6 months ago

    wonderful submit, very informative. I wonder why the other specialists of this sector do not realize this. You should continue your writing. I’m sure, you’ve a huge readers’ base already!

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