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.
What do the monthly charts say?
2019-11-11 • Updated
Sometimes it’s worth analyzing big timeframes in order to get important trading hints. Below you will find some observations from the monthly charts that can provide you with trade ideas.
Brent oil fell below 50-month MA that will now act as resistance at 57.00. If the price loses the support of 50.00, the next big target will be at 40.00.
Gold had a very positive month. The natural area of attraction for the price will be at 1320 and 1350. Support is at 1234 (50-month MA).
USD/JPY is supported by the 200-month MA at 105.80, while the upside is limited by 113.00. The pair lacks momentum and may stay in this range.
NZD/CAD met resistance and formed a very small candlestick in December. Further downside seems likely.
CAD/CHF has strong resistance at 0.7400 and 0.7530. The recovery seems temporary.
GBP/CAD met resistance at 1.7440. The natural target is at 1.68.
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.
The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
The past several weeks have been a real triumph for the bulls in the oil market. The Brent spot price grew by 8.5% during the last month.
Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.
Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.