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US stock index futures were a touch lower this morning, pulling back following gains for all four majors on Thursday. Yesterday the S&P 500 finally broke above 6,100 to hit a fresh all-time high, while also posting a record close. The Dow and NASDAQ 100 were both around 1% below their respective all-time highs, while the mid-cap, domestically-focused Russell 2000...

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Gold is a touch weaker this morning, but the selling pressure has been relatively muted so far. Gold continues to show great resilience as it has managed to push higher despite the strength of the US dollar. The current leg of this rally has been going since mid-December, and in an encouraging sign for the bulls, all pullbacks have proved to be quite shallow. This...

TradeNation Broker

Onwards and upwards. Gold put in another strong performance yesterday, and has built on those gains this morning. The significant thing about Tuesday’s performance was that gold was able to break above resistance in the $2,720 area with apparent ease. In fact, it was textbook price action. Gold sliced through resistance, ran on, and then dropped back to retest...

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During his inauguration address early yesterday evening, President Donald Trump declared that he was calling a national energy emergency, aimed at raising fossil fuel production. This did little to support the price of crude. Although in fairness, it appears that the market had anticipated something along those lines, as the sharpest part of yesterday’s sell-off...

TradeNation Broker

Gold was firmer in early trade this morning, following a late sell-off on Friday evening. Back then, it fell below $2,700, and the slide lower continued in the first few hours of the Asian Pacific session overnight. Since then, it has rallied back above $2,700 where it appears quite comfortable. Gold has looked extremely resilient of late, not just when measured...

TradeNation Broker

Yesterday gold traded over $2,724 to hit its highest level since mid-December. Back then, gold sold off over the following five sessions for an overall 5% loss. Could history repeat? It’s certainly possible. Last month’s sell-off came despite the daily MACD hovering around ‘neutral’ so there was no indication that gold was overbought. Today’s daily MACD is higher...