The US stock indices continue to look very healthy, as the S&P 500 rallied on Wednesday. The NASDAQ 100 continue to go higher on Wednesday, as we have cleared the 4900 level.
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The WTI Crude Oil market rallied on Wednesday, using the $52 level as support. Natural gas markets continue to look unhealthy, as we have now lost about 9% in the last couple of sessions.
Gold markets initially tried to rally during the session on Wednesday, but struggled near the $1170 area.
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The EUR/USD pair had a volatile session on Tuesday as traders came back to work. It was volatile in the British pound as well, but this market has been consolidating in the general vicinity of 1.224 several days now.
The WTI crude oil initially rallied on Tuesday as traders came back from the holidays, but found the area above the $55 level as far too resistive. Natural gas markets fell apart on Tuesday, and right from the start we gapped below the $3.50 level and fell all the way to $3.25.
The US dollar tried to rally on Tuesday against the Japanese yen, but found selling pressure above. The Australian dollar had a positive session as we continue to grind sideways overall.
The S&P 500 rallied on Tuesday as liquidity picked up just a bit due to traders coming back from the holiday season. The NASDAQ 100 gapped higher at the open on Tuesday, and then shot towards the 4925 region.
Gold markets continue to consolidate near the $1150 level, coinciding with the 20-day exponential moving average.