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) still pointing to post further gains
2019-11-11 • Updated
Gold has been trying to consolidate its price action well above the 200 SMA at H1 chart and we can see that a corrective move could take place towards the Fibonacci level of 50% at 1313.47. Around that area, a rebound is likely to happen in order to extend gains toward the Fibonacci target of -23.6% at 1331.32. To the downside, a breakout below 1309.84 could expose the 1306.54 level, ahead of 1301.35, where are located the lows from May 1st.
RSI indicator stays slightly in the negative territory, favoring to the corrective move.
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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