Market Update – April 21

Market Update – April 21

ByJamie Saettele

Remember the 4 hour volume reversal on 4/9? ES failed to follow through on that reversal but price is back to that level. 2923/48 wasn’t reached but the rally from the March low consist of 2 equal waves…exactly. So, there is reason to ‘think’ that a countertrend rally is complete. Pay attention to 2770, which is the trendline from the low and VWAP from the February high. A break below there would also leave the rally from March as a bearish wedge, which would suggest an eventual re-test of the low. The next immediate spot to watch then would be 2600/30 (VWAP from the low and recent resistance and support).

Market Update – April 20

Market Update – April 20

ByJamie Saettele

Gold reversed from massive resistance last week (long term parallel is shown on the weekly chart below). I am bearish…at least near term. If the decline from last week’s high unfolds in 5 waves, then I’d be confidently bearish against the high and look to short a rally. For now, just know that levels to watch are 1672.50 for support (keep in mind that this is futures and not spot) and 1724.20 for resistance.

Interview with Francesc Riverola, Founder of FXStreet

Interview with Francesc Riverola, Founder of FXStreet

ByScandinavian Capital Markets

In the early days of FXStreet, Francesc was in charge of advertising and content. He worked alongside his wife Miriam Pinatell (a graphic designer) and his friend Setxi Fernández (a programmer) who would become official partners in 2001 when the company was created. Currently, Miriam is the Head of Administration, Setxi is the CEO and Francesc serves as President.