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Macro Morning - MacroBusiness

MacroBusiness Access Subscriber Only Content at 9:00 am on August 4, 2021 | 9 comments Equities bounced back on Wall Street as corporate earnings overshadowed everything else, although stronger US factory orders and more Fed talk supporting a gradual taper helped as well. Treasury yields however spell out the better picture and remain down at multi month lows while currency markets saw a big of USD strength eke back in. Commodities were again mixed to the downside, with oil slipping further after its poor start to the week while gold once more hovered just above the $1800USD per ounce level. Bitcoin is slipping again, falling through the $39K level overnight after a lack of buying action has seen its false breakout on Friday night dwindle back to the previous week lows.  The four hourly chart still shows a series of lower lows since the Monday morning gap with price now pushing through nominal trailing ATR support so expect possible volatility ahead at these key levels:

Tesla (TSLA) Stock Price and Forecast: Perfect consolidation set up for a drive to $781

Tesla (TSLA) Stock Price and Forecast: Perfect consolidation set up for a drive to $781NEWS | 8/4/2021 9:41:35 AM GMT | By Ivan Brian Tesla stock consolidates above $700 after a strong end to last week. TSLA is on target to break $781 resistance. The EV giant is still one of the retail trader s favourite stocks. Tesla stock steadied itself for a test of higher levels on Tuesday, closing barely changed at $709.74. However, it was a perfect setup from a consolidation of the recent uptick, as the stock tested the psychological level at $700, with a low on Tuesday of $701.01. This keeps the bullish trend intact and Tesla remains on track to test our next resistance at $781, the high from April 14.

Macro Morning - MacroBusiness

MacroBusiness Access Subscriber Only Content at 9:00 am on August 3, 2021 | 3 comments A big retraction in Treasury yields overnight on the back of a disappointing US ISM Manufacturing print saw Wall Street give pause while commodities sold off sharply.  Currency markets were little changed again, with WTI and Brent crude falling more than 3% while gold prices remained just above the $1800USD per ounce level. Bitcoin has been able to only just hold on to its breakout gains after pushing through resistance at the $40K level on Friday night and holding over the weekend. The four hourly chart however shows a series of lower lows since the Monday morning gap with price nearing trailing ATR support which needs to be respected before any further leg higher:

Tesla (TSLA) Stock Price and Forecast: Why did Tesla surge on Monday? Options call works wonders

Tesla (TSLA) Stock Price and Forecast: Why did Tesla surge on Monday? Options call works wonders
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