First Potential Pullback After BreakoutSince the breakout to new record highs on September 2, gold has shown almost uninterrupted strength, with only one prior one-day pullback before momentum quickly resumed. A similar recovery is possible again, but price behavior now suggests the market may be ready for a deeper pullback or consolidation. The advance from the $3,311 swing low to Tuesday’s high represented an 11% gain, or $363, over just 14 trading sessions — a steep rise that increases the odds of furthe ...

Core Viewpoint - The gold market is currently at a critical juncture, with potential bearish signals if it breaks below key support levels, while also holding the possibility for bullish reversals if certain resistance levels are breached [1][2][3][4] Price Levels and Technical Analysis - A decisive break below the triangle's lower boundary would trigger a bearish signal, requiring further weakness through the higher swing low at $3,268 for confirmation [1] - If the price closes below $3,268, it would set up a test of the May swing low at $3,121, which also coincides with a 38.2% Fibonacci retracement level at $3,149 from April's record high of $3,500 [1] - Should $3,121 fail to hold, increased volatility is expected, as failed consolidation patterns can lead to extended moves, with the 200-Day moving average at $3,043 being the next major downside target [2] Market Sentiment and Potential Scenarios - While bearish risks are prevalent in the short term, traders should be cautious of potential false breakdowns, which could lead to renewed bullish momentum if the price reverses back into the triangle [3] - A breakout above the $3,439 swing high would confirm a reversal and signal a return to the longer-term uptrend [3] Overall Market Outlook - Until gold decisively breaks beyond the symmetrical triangle boundaries, momentum is likely to remain muted, with bears currently controlling the short-term picture [4] - Key levels to watch for the next decisive move are $3,268 on the downside and $3,439 on the upside [4]

Group 1 - The 20-Day moving average has recently turned down, indicating potential resistance around the 200-Day MA and the 20-Day MA, consistent with a bearish flag formation and a bull channel breakdown [1] - A significant support zone is identified between $65.74 and $64.50, which includes the 50-Day MA and other technical levels, suggesting that a decline below the 61.8% Fibonacci retracement will confirm a continuation of the bear flag breakdown [2] - A rally above today's high of $67.41 could lead to testing resistance around the 20-Day MA at $68.47, while a decline below today's low of $66.50 would trigger further bearish movement [3] Group 2 - The current market conditions reflect a narrow trading range, which is not typical for a solid breakdown, indicating caution among traders [3]

Core Viewpoint - A trading analyst maintains a bullish outlook on Tesla, setting a price target of $600 despite recent tensions between CEO Elon Musk and President Donald Trump [1][10]. Group 1: Market Reaction and Stock Performance - Tesla's market cap decreased by $150 billion on June 5, but the stock rebounded over 3% to close at $295 on June 6 [2]. - The recent dip in Tesla's stock is viewed as a short-term pullback within a broader bullish trend [4]. Group 2: Technical Analysis - Tesla is currently within a long-term upward channel that began after the stock's low in January 2023, with a significant support level identified at the 0.236 Fibonacci retracement [5]. - The current downturn is interpreted as the early stage of a bull flag, suggesting a potential breakout in the near future [6]. - A price target of $600 aligns with the upper boundary of the channel and the 1.0 Fibonacci extension, which could be reached by early November 2025 if the bullish trend persists [7]. Group 3: Upcoming Events and Strategic Focus - Attention is shifting towards Tesla's upcoming robotaxi unveiling on June 12, which is considered crucial for the company's push for unsupervised autonomous driving approval [8]. - The public feud between Musk and Trump is expected to diminish as the robotaxi launch approaches, with analysts expressing optimism about Tesla's stock prospects [10]. Group 4: Broader Market Sentiment - Wall Street remains optimistic about Tesla, with Morgan Stanley reaffirming a long-term price target of $1,000, contingent on successful expansion into drones and urban air mobility [10][11].

Group 1 - Palantir Technologies Inc stock is experiencing resistance at peak call open interest levels and February highs following the recent first-quarter results [1] - The stock's post-earnings rebound has stalled around the 50% year-to-date level and the 78.6% Fibonacci retracement, indicating potential for lower highs [1] - Short interest constitutes only 2.3% of the equity's available float, the lowest level since March, allowing room for short sellers to increase their positions [4] Group 2 - The peak call open interest at the 125-strike is acting as resistance, and a decline below $115 could attract shares towards the 100-strike [4] - The stock's Schaeffer's Volatility Scorecard (SVS) is 83 out of 100, indicating it has surpassed options traders' volatility expectations over the past year [5] - A recommended June put option has a leverage ratio of 5.5, which would double with a 15.8% drop in the underlying security [5]

Advanced Micro Devices (NASDAQ: AMD) has had a challenging start to 2024, sliding over 18% since the beginning of the year. Despite delivering a double beat on both earnings per share (EPS) and revenue in its Q4 and FY 2024 earnings report on February 4, the results were overshadowed by a miss in data center revenue, which came in significantly below forecasts.AMD year-to-date price chart. Source: FinboldThe disappointment has sent AMD shares lower, with the stock slipping to $98.85 as of press time, markin ...