Gold is down another 0.7% today as a firmer dollar and higher yields since the election looks to be weighing. Alternative flows into Trump trades such as Bitcoin and stocks are also arguably in play, with gold not quite favoured as much in that sense. But how are things playing out on the charts?

The drop today reaffirms some rejection closer to $2,700 again after a brief bounce following the election result last week. The most notable thing is that we are seeing gold hold back below the broken trendline support from August (white line). And that is keeping sellers in control, alongside a push back under both its 100 and 200-hour moving averages:

That is keeping the near-term bias more bearish now, keeping with the momentum from the US election result.

So, what’s next for gold?

The daily chart shows that the latest fall is nothing too significant but there are a couple of momentum breaks/shifts as seen above.

For sellers, a push to test the October lows near $2,600 would be the first real test of gathering more downside momentum in this latest run here. And if they manage that, then only I reckon one can argue about a deeper pullback for gold. It is one that I’ve been nagging on for a while that it’s been coming.

And if we do get such a pullback, I reckon it will be a much welcome development for the bulls and dip buyers.

The run higher this year has been nothing short of breathtaking and any pullback in the next few weeks will be rather timely I would say.

It would come right before the typical seasonal buying rush in gold that usually coincides in December and January.

In the last 20 years, January has been the best performing month for gold. Meanwhile, the precious metal is on a 7-year winning streak in December trading. As such, the seasonal consideration is a tough thing to ignore if you’re looking at gold in the next two to three months.

Given that potential, any material pullback in gold prices now might just be setting up for a stronger seasonal tailwind when we get to the months ahead. Keep that in your back pocket just in case.

This article was written by Justin Low at www.forexlive.com.

The price action
in copper remains choppy as the market continues to question Chinese economic
growth and stimulus. On the other hand, we have also Trump’s victory and fears
of a trade war.

Copper has been tightly
correlated to the Chinese stock market in recent years which just shows the strong
dependence of the commodity to the Chinese economy. That should not be
surprising given that China is responsible for more than 60% of global copper demand.

The recent data
out of China did show a little improvement even though it’s too early to draw
conclusions. On the other hand, Trump will likely focus first on tax cuts and
domestic issues rather than going berserker on tariffs.

Overall, the
picture is more bullish than bearish for the copper market but the mixed
signals will likely keep the momentum at bay until we get some key technical breakout
or strong catalyst to trigger a more sustained trend.

Copper
Technical Analysis – Daily Timeframe

On the daily chart, we can
see that copper bounced near the trendline
as the buyers stepped in with a defined risk below it to position for a rally
into the key 4.69 resistance.
The sellers will want to see the price breaking below the trendline to increase
the bearish bets into the next major trendline around the 3.90 level.

Copper Technical
Analysis – 4 hour Timeframe

On the 4 hour chart, we can
see that we have mostly a rangebound price action between the trendline and the
resistance. There’s not much we can glean from this timeframe so we need to zoom
in to see some more details.

Copper Technical
Analysis – 1 hour Timeframe

On the 1 hour chart, we can
see that we have a minor resistance zone around the 4.37 level. The buyers will
want to see the price breaking higher to target a rally into the 4.69
resistance, while the sellers will likely lean on it to position for a drop
back into the trendline. The red lines define the average daily range for today.

Upcoming
Catalysts

This week is a bit empty on the data front with the most important releases
scheduled for the latter part of the week. On Wednesday, we have the US CPI
report. On Thursday, we get the latest US Jobless Claims figures. On Friday, we
conclude the week with the US Retail Sales data.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

Hello, Itai Levitan here at ForexLive.com 👋, examining why Amazon stock could be a sell around $217. Currently priced just under $209, Amazon might see some upward momentum, but $217 is where profit-takers might jump in. If you’re a medium-term investor or swing trader, here’s why this level could be your signal to exit. Sell Amazon stock at your own risk—this is just an opinion.

🔴 A confluence of resistance levels between $215 and $222

• The $217 range is not random—it’s a convergence zone where multiple technical factors come into play.
• Several algorithmic and manually drawn trend lines meet here, both on daily and weekly charts.
• This convergence suggests resistance, potentially stalling Amazon’s climb without a major catalyst.

📏 Fibonacci levels supporting the resistance

• Fibonacci fans will spot something here! 🔍 From the August 5th low to the July 3rd high, the 1.272 and 1.414 extensions align closely with this range.
• The $217 level sits nearly in the middle, strengthening its significance as a potential profit-taking area.

📉 Channel analysis and the third touch point

• Amazon’s broader price channel began with a steep post-earnings dip, dropping 20%, then bouncing up almost as much.
• This movement forms two touch points in the channel, with a potential third at around $217.
• A third touch here could signal a top within the channel, possibly leading to a downward move toward the channel’s lower band.

📉 Potential downside to $180: A strategic buy zone

• If Amazon struggles at $217 and pulls back, watch for a possible test near the pre-earnings gap around $181.87.
• Below that, around $180, sits a pool of liquidity and stop orders that could lead to a bounce.
• For swing traders, this level might offer a smart buy opportunity, especially after a 17% correction from $217, with a chance to take partial profits for risk management. 📉

🔎 Other factors weighing on Amazon

• Bezos selling: Jeff Bezos has been offloading Amazon stock in record amounts this year, which may add supply-side pressure.
• „Trump effect“ fading: Potential shifts in market dynamics as political uncertainties fade could add further market volatility.
• Together, these factors point toward caution for Amazon’s price direction. 🤔

💡 Key takeaway for medium-term investors

• For investors focused on medium-term gains, an exit around $217 could help mitigate risk.
• If you’re in it for the long haul and don’t mind short-term fluctuations, hold steady.
• For those who’d rather avoid a 20% drop, watch that resistance zone around $217 and consider selling to lock in profits.

Oh, and don’t forget about Jeff Bezos’s record sales this year—he’s cashed in over $13 billion of Amazon stock in 2024 alone, outpacing previous years. 📈 Whether for Blue Origin, philanthropy, or tax reasons, these sales add to the evidence that a careful approach to Amazon stock might be wise right now.

For more perspectives for investing and trading, visit ForexLive.com. And remember – buy and/or sell AMZN stock at your own risk only.

Amazon stock latest news

Last updated: November 11, 2024

Amazon Under the Microscope in India 🇮🇳

Amazon is feeling the heat in India as regulators amp up their scrutiny. India’s Competition Commission is probing Amazon’s business practices, especially its deep discounts for select sellers, questioning fair competition. With investigations also buzzing in the U.S. and Europe, these hurdles could impact Amazon’s valuation and shake investor confidence. 📉 Keep an eye on this—it could change the e-commerce landscape.

New Data Center in Pennsylvania Brings Hope 🏗️

Amazon’s building big in Pennsylvania, with a new data center on the way. This expansion promises jobs and a boost for the local economy. Investors, take note: Amazon’s strategic growth, even amidst challenges, shows potential for fresh opportunities. 📈 ForexLive traders might want to stay alert—this could have ripple effects worth exploring.

Is Amazon Still a Top Long-Term Buy? 💡

Amazon’s recent earnings were a bit underwhelming, and the stock took a hit. But here’s the good news: for long-haul investors, Amazon’s core strengths in e-commerce, cloud computing, and new ventures remain solid. This dip might be a golden ticket. Amazon’s resilience and growth chops make it a compelling buy for those thinking big picture. 📈

AMZN Stock Valuation: Just the Highlights 📈

• PEG Ratio: At 2.48, Amazon’s PEG ratio might seem a bit pricey, but keep in mind it’s backed by strategic, long-term investments that drive future profitability. Think of it as paying a premium for innovation.

• EPS Growth: With an impressive EPS growth estimate of 21.06% for next year and a 5-year forward rate of 18.00%, Amazon’s earning power is solid. This is a stock for those who want a growth powerhouse.

• Forward P/E Ratio: Amazon’s forward P/E of 33.60 may look high, but it reflects strong expectations for earnings growth. Investors are betting on Amazon’s proven ability to keep expanding rapidly.

For those with a long-term view, Amazon’s valuation suggests it’s worth the price—an investment in continued growth.

AMZN Analyst Recommendations: The Essentials 📊

• Positive Outlook: AMZN continues to earn strong ratings, with many analysts giving it ‚Buy‘ or ‚Outperform‘ recommendations. Telsey Advisory Group and Monness Crespi & Hardt recently raised their price targets, reflecting confidence in Amazon’s future growth.

• Minor Downgrades but Strong Consensus: While Wells Fargo shifted its rating from ‚Overweight‘ to ‚Equal Weight,‘ the majority remain optimistic. New ‚Buy‘ and ‚Outperform‘ ratings from firms like Scotiabank and Pivotal Research Group reinforce this confidence.

• Bullish Price Targets: Recent target hikes from analysts, including Loop Capital and Telsey Advisory Group, signal bullish sentiment. This trend of price target increases bodes well for long-term investors.

AMZN Insider Trading: Key Takeaways 🕵️‍♂️

• Coordinated Sales: Recent insider sales, with key figures like Jassy and Herrington selling shares in alignment, hint at a shared view among Amazon’s top brass. For investors, this coordination could signal a need to reassess risk exposure, possibly hinting at future stock pressure.

• Option Exercises Followed by Sales: Executives like CEO Andy Jassy and CFO Brian Olsavsky have frequently exercised options only to sell shares immediately. This pattern might imply a preference for liquidity over holding, a potentially bearish signal indicating cautious insider confidence.

• Consistent Large-Scale Sales: The regular, high-volume sales by Executive Chair Jeff Bezos and Worldwide Stores CEO Doug Herrington suggest potential selling pressure. For investors, this repeated insider selling could be a cue to re-evaluate positions, as it may indicate executives see limited short-term upside.

For those tracking AMZN, these insider moves offer important insights—keeping caution in mind might be wise. 📉

For more sharp takes on investing and trading, swing by ForexLive.com. And remember—when it comes to buying or selling AMZN, take the plunge at your own risk! 😎📈📉

This article was written by Itai Levitan at www.forexlive.com.

• Will step up countercyclical adjustment
• Should resolutely guard against the risk of exchange rate overshoot
• To strengthen financial oversight oversight comprehensively to prevent systemic risks
• Will strengthen consistency of macroeconomic policies to form synergy between monetary and financial policies

Nothing too major there and the remarks here aren’t going to soothe investors after the disappointing stimulus announcement from Friday last week.

This article was written by Justin Low at www.forexlive.com.

Crude oil continues to
display a rangebound price action as it struggles to break above the key 72.00
resistance. The Trump’s victory might be seen as bearish in the short term for
fear of the tariffs and a potential slowdown in global growth as other countries retaliate.

It’s worth remembering that
in 2016, crude oil did fall initially on Trump’s victory but eventually rallied
for more than 20% in the following three months on higher global growth
expectations.

The red sweep should see
Trump focusing more on tax cuts and domestic issues which should eventually
lift global growth expectations. If we had a divided Congress, then his first
priority could have been indeed a trade war.

Moreover, we have also central
banks easing their monetary policies and that generally leads the manufacturing
cycle, which is likely to be supportive for the crude oil market.

Crude Oil
Technical Analysis – Daily Timeframe

On the daily chart, we can
see that crude oil is struggling a lot breaking the key resistance around the 72.00 handle. The buyers
will want to see the price breaking higher to start targeting the major trendline
around the 78.00 handle. The sellers, on the other hand, will likely keep on
stepping in around the resistance to position for a drop into the 65.00 handle.

Crude Oil Technical
Analysis – 4 hour Timeframe

On the 4 hour chart, we can
see that we have a range between the 72.00 resistance and the 69.50 support.
The sellers will want to see the price breaking lower to increase the bearish
bets into the 65.00 handle, while the buyers will likely step in around the
support to position for a rally back into the resistance.

Crude Oil Technical
Analysis – 1 hour Timeframe

On the 1 hour chart, we can
see that we have a minor downward trendline defining the current bearish momentum.
The sellers will likely keep on leaning on it to push into new lows, while the
buyers will look for a break higher to increase the bullish bets into the resistance.
The red lines define the average daily range for today.

Upcoming
Catalysts

This week is a bit empty on the data front with the most important releases
scheduled for the latter part of the week. On Wednesday, we have the US CPI
report. On Thursday, we get the latest US Jobless Claims figures. On Friday, we
conclude the week with the US Retail Sales data.

This article was written by Giuseppe Dellamotta at www.forexlive.com.