ClearValue Team Insights
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SPY Drops Below the White Resistance Line
The S&P 500 closed at record highs yesterday, but opened with a slightly bearish gap below the white support line. This week I talked about how the white support line is an important price target to monitor. SPY is attempting to hold above $541, but there are likely to be sellers above the white trendline. […]Read More
QQQ Continues to Rally to New ATHS
Yesterday the NASDAQ and S&P have closed at new all time highs despite a lot of red throughout the markets. QQQ continues to show bullish momentum, and is still rallying at new all time highs. The yellow resistance line is a key price target ahead around $520+. ChartChamp socials: https://linktr.ee/realchartchamp
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Dedollarization: Saudi Arabia terminates 80-year petrodollar deal
Saudi Arabia has terminated an 80-year petrodollar deal with the United States. Saudi’s oil sales were exclusively in US dollars, and this deal has recently been terminated on June 9th. Saudi Arabia will use other currencies instead such as the Euro and Russian ruble. The U.S. dollar is likely to get weaker, which is bullish […]Read More