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Economic Times
an hour ago
- Business
- Economic Times
Gold at a crossroads: Will fed's hawkish pause and Iran conflict spark a $3,400 breakout?
Gold prices are currently under pressure due to the US Federal Reserve's stance on interest rates. This has strengthened the US Dollar. Geopolitical tensions and trade worries offer some support to gold. Spot gold is trading near $3,387. Technical levels to watch include support at $3,322 and resistance at $3,374. Tired of too many ads? Remove Ads Why is gold falling today? The Fed now expects only one rate cut of 25 bps in both 2026 and 2027. This 'hawkish' view supports the US Dollar and pressures gold. Tired of too many ads? Remove Ads Geopolitics and trade tensions still support gold US Senate Intel Chair said Trump wants to give Iran a last chance to end its nuclear program. Trump is reportedly delaying any strikes for about two weeks. Gold price now and key levels to watch Spot gold trades just below $3,350, after falling earlier in the day. Earlier this week, gold touched a nearly 2-month high close to $3,452. The US Dollar pulled back after a recent peak, giving gold slight support. Technical view: Can gold stay above key support? Immediate support: $3,323–$3,322 Next support: $3,300 Key resistance: $3,374–$3,375 Next hurdle: $3,400 Upside target if breakout happens: $3,434–$3,435, then $3,451–$3,452 Major breakout point: $3,500 (psychological level, also near top of ascending channel) What traders should watch next If gold drops below $3,322, it may fall further to $3,300 or even lower. If gold breaks above $3,400, it could aim for $3,435 and even $3,452. A clear move above $3,500 could open the door to test $3,550 or $3,600. RSI is weakening but close to key levels; a move back above 60 would signal strength. Today's focus: Geopolitics and the Fed outlook US–Iran tensions: US officials reportedly preparing strike options; Trump says, 'I may do it. I may not.' Fed signals fewer rate cuts in future years, boosting the Dollar and limiting gold upside. Gold prices are facing selling pressure even though there are some factors that could help support them. The Federal Reserve's tough stance on interest rates is helping the US Dollar and putting pressure on worries and increasing geopolitical tensions may support gold as a safe-haven asset. Gold prices have dropped to their lowest in over a week, trading just below a key level in early European trading. This comes after the Fed recently lowered its forecast for future rate cuts, which boosts the US Dollar and reduces demand for gold, since it doesn't pay is under pressure again even though some factors could support it. Prices are hovering just under $3,350 after falling earlier in the day. Traders are watching global risks and the US Federal Reserve's recent interest rate US Federal Reserve kept interest rates the same but said it now plans fewer rate cuts in 2026 and 2027. This made the US Dollar stronger and reduced demand for gold, which doesn't give any top of that, European stock markets are doing well, which is reducing safe-haven demand for with the pressure, gold still has some support. Rising tensions in the Middle East are worrying investors. The fight between Iran and Israel has now gone on for eight days. There's also speculation that the US may get the same time, US–China trade worries are growing again. Trump has warned of new tariffs on the pharma sector, and more could come before the July 9 'liberation day' tariff kind of uncertainty usually supports gold as a safe has dropped below the 100-period SMA and is testing the lower edge of an ascending channel. Momentum indicators are losing strength, especially on hourly now, gold is trading between $3,322 and $3,400. A clear breakout from this range could set the direction for the coming weeks.
CNBC
an hour ago
- Automotive
- CNBC
Using options to buy the recent dip in this used car retail stock
Despite beating earnings estimates and maintaining solid profit margins, Carvana (CVNA) has been under pressure recently, losing more than 9% in the last eight sessions — all on tariff scare headlines. While tariffs are a legitimate concern for many companies, this kind of sharp drop is a textbook example of a knee-jerk reaction — and the market is full of them. As a mean reversion trader, the goal is to identify these overreactions and take the other side when the setup aligns. In this case, I'm using a couple of key technical indicators to spot whether CVNA is setting up for a bounce: RSI (relative strength index): RSI is a flexible indicator that helps identify both trend reversals and continuations. In this case, the signal is pretty clear — RSI reversed course on 6/26 and has been climbing since, suggesting that the recent bearish momentum may be fading. Support/resistance: Support and resistance levels are often simple to spot — and in the chart below, you'll see clear support around the $280 level. What's interesting is that CVNA is starting to bounce right off that zone, reinforcing its significance. MACD (5,13,5): I like to bring the MACD indicator into my analysis from time to time because it's a solid tool for spotting early entry signals. While the standard MACD can lag a bit, I often use a short-term version to catch momentum shifts sooner. A bullish crossover — where the MACD line crosses above the signal line — typically acts as an early signal to consider getting into a trade. In this case, MACD hasn't confirmed the setup just yet, but it's definitely worth keeping an eye on for potential confirmation. The trade setup: CVNA 305-310 bull call spread To take advantage of this mean reversion setup, I'm using a bull call spread — a strategy that allows me to risk as little as $250 per trade and scale up easily by adding more contracts. For instance, using 10 contracts means risking $2,500 for a shot at $2,500 in profit, as long as CVNA closes at or above $310 by expiration — just $3 above its current price. With the stock trading near $307, the trade is built by buying the $305 call and selling the $310 call. It's a simple, defined-risk structure that gives me upside exposure without tying up too much capital. I break down setups like this in detail in my book Mean Reversion Trading , and you can explore tons of real-world examples at . Here is my exact trade setup: Buy $305 call, July 18 expiry Sell $310 call, July 18 expiry Cost: $250 Potential Profit: $250 -Nishant Pant Founder: Author: Mean Reversion Trading Youtube, Twitter: @TheMeanTrader DISCLOSURES: None. All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. Click here for the full disclaimer.
Time of India
3 hours ago
- Business
- Time of India
Gold at a crossroads: Will fed's hawkish pause and Iran conflict spark a $3,400 breakout?
Gold prices are currently under pressure due to the US Federal Reserve's stance on interest rates. This has strengthened the US Dollar. Geopolitical tensions and trade worries offer some support to gold. Spot gold is trading near $3,387. Technical levels to watch include support at $3,322 and resistance at $3,374. Tired of too many ads? Remove Ads Why is gold falling today? The Fed now expects only one rate cut of 25 bps in both 2026 and 2027. This 'hawkish' view supports the US Dollar and pressures gold. Tired of too many ads? Remove Ads Geopolitics and trade tensions still support gold US Senate Intel Chair said Trump wants to give Iran a last chance to end its nuclear program. Trump is reportedly delaying any strikes for about two weeks. Gold price now and key levels to watch Spot gold trades just below $3,350, after falling earlier in the day. Earlier this week, gold touched a nearly 2-month high close to $3,452. The US Dollar pulled back after a recent peak, giving gold slight support. Technical view: Can gold stay above key support? Immediate support: $3,323–$3,322 Next support: $3,300 Key resistance: $3,374–$3,375 Next hurdle: $3,400 Upside target if breakout happens: $3,434–$3,435, then $3,451–$3,452 Major breakout point: $3,500 (psychological level, also near top of ascending channel) What traders should watch next If gold drops below $3,322, it may fall further to $3,300 or even lower. If gold breaks above $3,400, it could aim for $3,435 and even $3,452. A clear move above $3,500 could open the door to test $3,550 or $3,600. RSI is weakening but close to key levels; a move back above 60 would signal strength. Today's focus: Geopolitics and the Fed outlook US–Iran tensions: US officials reportedly preparing strike options; Trump says, 'I may do it. I may not.' Fed signals fewer rate cuts in future years, boosting the Dollar and limiting gold upside. Gold prices are facing selling pressure even though there are some factors that could help support them. The Federal Reserve's tough stance on interest rates is helping the US Dollar and putting pressure on worries and increasing geopolitical tensions may support gold as a safe-haven asset. Gold prices have dropped to their lowest in over a week, trading just below a key level in early European trading. This comes after the Fed recently lowered its forecast for future rate cuts, which boosts the US Dollar and reduces demand for gold, since it doesn't pay is under pressure again even though some factors could support it. Prices are hovering just under $3,350 after falling earlier in the day. Traders are watching global risks and the US Federal Reserve's recent interest rate US Federal Reserve kept interest rates the same but said it now plans fewer rate cuts in 2026 and 2027. This made the US Dollar stronger and reduced demand for gold, which doesn't give any top of that, European stock markets are doing well, which is reducing safe-haven demand for with the pressure, gold still has some support. Rising tensions in the Middle East are worrying investors. The fight between Iran and Israel has now gone on for eight days. There's also speculation that the US may get the same time, US–China trade worries are growing again. Trump has warned of new tariffs on the pharma sector, and more could come before the July 9 'liberation day' tariff kind of uncertainty usually supports gold as a safe has dropped below the 100-period SMA and is testing the lower edge of an ascending channel. Momentum indicators are losing strength, especially on hourly now, gold is trading between $3,322 and $3,400. A clear breakout from this range could set the direction for the coming weeks.
Mint
3 hours ago
- Business
- Mint
Waaree Energies soars over 11% on FTSE index rejig; stock nears ₹3,000-mark
Shares of Waaree Energies surged over 11 percent on Friday, June 20, after reports confirmed the stock's likely inclusion in the upcoming FTSE global index rejig. The counter jumped to an intraday high of ₹ 2,975, as investors rushed to price in passive inflows ahead of the revision's implementation. London-based Financial Times Stock Exchange (FTSE) is set to announce its latest index composition changes on June 20, with the resultant inflows expected to begin from June 23. As per brokerage estimates, Waaree Energies could attract $49 million in passive investments from global funds tracking the index. Other stocks expected to benefit include Vishal Mega Mart with inflows pegged at $115 million, Hyundai Motor India at $56 million, Swiggy at $32 million, and NTPC Green Energy at $22 million. Afcons Infrastructure, OneSource Specialty Pharma, Sai Life Sciences, and Inventurus Knowledge are also set to enter the FTSE radar. The inclusion not only increases liquidity but also enhances global visibility for Waaree, which has gained prominence in recent quarters as a major solar module supplier. While the index development lifted sentiment, Waaree Energies also gained from positive media commentary around its resilience to U.S. policy changes, particularly former President Donald Trump's 'One Big Beautiful Bill', which proposes cutting back renewable energy incentives. The company has continued to gain traction in the U.S. market. Its American subsidiary, Waaree Solar Americas, has recently secured multiple large contracts, including a 586 MW module supply deal and a 599 MW order from top independent power producers To meet growing demand, Waaree plans to double the capacity at its Brookshire, Texas facility to 3.2 GW by end of 2025—a move seen as strategically vital to cementing its global market position. With Friday's upmove, the stock now trades 22 percent below its 52-week high of ₹ 3,740.75, touched in November 2024. It had earlier slumped to a 52-week low of ₹ 1,808.65 in April 2025, indicating a wide trading range over the past year. While June has so far seen a 2.3 percent decline, the stock had gained 14.4 percent in May, 8.3 percent in April, and 11.4 percent in March, following double-digit declines in February (-10%) and January (-16%). Importantly, Waaree Energies has now rallied nearly 98 percent from its IPO price of ₹ 1,503, underlining investor confidence in its execution and prospects. Kunal Kamble, Sr. Technical Research Analyst at Bonanza said, "Waaree Energies is currently forming an ascending triangle pattern on the daily time frame a bullish continuation setup that indicates accumulation and potential breakout. The stock showed strong buying interest from the support zone in today's session, supported by above-average volume, reinforcing bullish sentiment. It has managed to close decisively above the 20-day and 50-day EMAs, signaling a positive shift in short to medium-term trends. The Relative Strength Index (RSI) is placed at 62.19 and is sloping upward, suggesting strengthening bullish momentum. A decisive breakout above the ₹ 3050 level could attract fresh buying interest, potentially propelling the stock toward ₹ 3300 in the near term. Technical signals are aligning positively, and traders should keep a close watch for a breakout confirmation to ride the next leg of the rally."
Time of India
4 hours ago
- Business
- Time of India
Stock Radar: This BSE Sensex stock from IT space is now looking attractive after breaking out from ascending triangle pattern; time to buy?
Investment Ideas Stock Radar: This BSE Sensex stock from IT space is now looking attractive after breaking out from ascending triangle pattern; time to buy? A breakout from an ascending triangle pattern occurs when the price closes above the horizontal resistance level with strong volume. Synopsis IT giant Infosys Ltd has broken out from an Ascending Triangle pattern, signalling potential upward movement. Experts suggest buying the stock with a target of Rs 1,770 in the next 7-8 weeks. Technical indicators like RSI and MACD support this bullish outlook, with analysts recommending a stop loss below Rs 1,560. Infosys Ltd, part of the Indian IT industry, broke out from an Ascending Triangle pattern on the daily charts, which has opened room for the stock to head traders can look to buy stock for a target of Rs 1,770 in the next 7-8 weeks, suggest stock has been under pressure after it hit a high above 2,000 levels back in December 2024. 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