Earnings season is a crucial time for investors and analysts, as it provides insights into how well companies have performed over the past quarter and gives indications of their future earnings. In 2023, expectations for US Q1 earnings were low due to economic challenges and rising interest rates. Surprisingly, many companies beat these low expectations, with 75% of S&P 500 companies surpassing forecasts.
Gold (XAU/USD) awaits to make a strong rebound
2019-11-11 • Updated
Gold has been trading in a negative tone across the board and remains capped by the 200 SMA at H1 chart. The 78.6% Fibonacci level is holding and it seems we could expect a strong support there in order to follow the overall bias towards the -23.6% Fibonacci target at 1375.80. To the downside, if such Fibo level gives up, then the next target would be the 1324.20 level.
RSI indicator remains in the negative territory.
When I started trading stocks a few years ago, I often needed to pay more attention to my technical analysis skills and trust that the market would play fair according to my analysis. I have since discovered that the safer approach to trading stocks is to, more often than not, seek out investing opportunities - that is, catching stock commodities with a potential to rise.
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