Tag: charts

Sunday Update Week of March 4th – SPY Shows It’s First Weekly Red Candle in 2019

A prepared trader is a generally a profitable trader, and Sunday is a great day to get ready for the week ahead by studying up from last week’s price action.  In this weekend’s analysis, we take a look at how the SPY, QQQ, and XBI ETFs are shaping up into next week. As the first weekly red volume bar of the year, is this a point of a reversal or just a quick consolidation zone before the next leg up?

What’s the Relationship Between Oil and the Dollar?

Most traders have noticed the inverse relationship between the dollar and commodity prices—include crude oil. While this isn’t surprising for commodities priced in dollars, the inverse relationship also holds true for commodities priced in other currencies. Commodity traders should keep these relationships in mind when trading futures contracts, particularly when the dollar index experiences significant movements due to interest rate decisions or other factors.

Let’s take a closer look at the relationship between crude oil and the dollar and what it means for traders.