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Kelvin Wong

Kelvin Wong

Based in Singapore, Kelvin Wong is a well-established senior global macro strategist with over 15 years of experience trading and providing market research on foreign exchange, stock markets, and commodities. Passionate about connecting the dots in the financial markets and sharing perspectives around trading and investment, Kelvin Wong is an expert in using a unique combination of fundamental and technical analyses, specializing in Elliott Wave and fund flow positioning, to pinpoint key reversal levels in the financial markets. In addition, over the last ten years, Kelvin has conducted numerous market outlook and trading-related seminars, as well as technical analysis training courses, for thousands of retail traders.

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Author's articles

Dow Jones Outperforms Peers as Technical Signals Support Medium-Term Bullish Bias

Dow Jones Outperforms Peers as Technical Signals Support Medium-Term Bullish Bias

This is a follow-up analysis and update of our prior report, “Dow Jones Technical: Minor pull-back found support with bullish elements sighted in Caterpillar”, published on 4 August 2025.

The US Wall Street 30 CFD Index (a proxy for Dow Jones Industrial Average futures) has kicked off the anticipated bullish impulsive upswing from the 1 August 2025 minor swing low of 43,335.

INVESTING
Kelvin Wong
Hong Kong 33 CFD Index Breaks Above 20-Day MA, Eyes 25,890 in Short-Term Rally

Hong Kong 33 CFD Index Breaks Above 20-Day MA, Eyes 25,890 in Short-Term Rally

Since the recent one-week slide of -5.8% seen on the Hong Kong 33 CFD Index (a proxy of the Hang Seng Index futures) from 24 July 2025 high to 1 August 2025 low, its price actions have been choppy as markets grappled with US tariffs news flow and the possibility of an imminent US Federal Reserve dovish pivot in September.

STOCKS
Kelvin Wong
Silver Poised for Bullish Continuation Above $39.53, Key Support at $37.00

Silver Poised for Bullish Continuation Above $39.53, Key Support at $37.00

This is a follow-up analysis and update of our prior report, Chart of the day – Potential bullish acceleration for Silver (XAG/USD) published on 18 June 2025.

Silver (XAG/USD) has staged the expected rally of 7.1% from 18 June 2025 to hit the predefined resistance of US$39.08 (printed a 14-year high of US$39.53 on 23 July) before it staged a corrective decline of -8.39% to hit an intraday low of US$36.21 on 31 July 2025.

COMMODITIES
Kelvin Wong
Germany 30 CFD Index Technical Outlook: Bullish Bias with Key Support at 23,990

Germany 30 CFD Index Technical Outlook: Bullish Bias with Key Support at 23,990

The price actions of the Germany 30 CFD Index (a proxy of the DAX futures) have staged a corrective decline of 5% from its current all-time high of 24,655 on 10 July 2025 to 1 August 2025 intraday low of 23,385.

Several key technical elements are now advocating for a potential recovery to kickstart a new impulsive up move sequence within its major uptrend phase.

ECONOMY
Kelvin Wong
All Eyes on CPI: Dollar Recovery, Volatile Sessions, and Packed Data Calendar

All Eyes on CPI: Dollar Recovery, Volatile Sessions, and Packed Data Calendar

Markets have opened the week with relatively subdued movements as players brace for tomorrow's major US CPI release.
 

ECONOMY
Kelvin Wong
Global Markets Show Mixed Signals Amid Hawkish BoE Cut and Geopolitical Developments

Global Markets Show Mixed Signals Amid Hawkish BoE Cut and Geopolitical Developments

Today's huge turn in the US stocks have sent another round of confusion in the daily cross-asset picture.

TRADE
Kelvin Wong
Trump’s Executive Order Boosts Bitcoin and Crypto, Driving Institutional Interest in 401(k) Plans

Trump’s Executive Order Boosts Bitcoin and Crypto, Driving Institutional Interest in 401(k) Plans

Bitcoin has recovered from a recent pullback thanks in part to improving market sentiment, a weaker US Dollar and recent crypto developments in the US.

CRYPTOCURRENCIES
Kelvin Wong
WTI Reversal Signals Deeper Decline as Inventories Rise and Sanctions May Ease

WTI Reversal Signals Deeper Decline as Inventories Rise and Sanctions May Ease

The geopolitical risk premium in the oil market has faded, taking a back seat after a four-week, 30% parabolic rally in West Texas Oil CFD (a proxy for WTI crude futures) during the initial phase of the Israel-Iran conflict.

COMMODITIES
Kelvin Wong
Asian Markets Rally on Trade Optimism as USD Weakens; Yen Softens After BoJ Remarks

Asian Markets Rally on Trade Optimism as USD Weakens; Yen Softens After BoJ Remarks

COMMODITIES
Kelvin Wong
Bulls Stumble as GBP/JPY Nears Key Resistance at 187.30

Bulls Stumble as GBP/JPY Nears Key Resistance at 187.30

FOREX
Kelvin Wong
CHF/JPY: Bullish Momentum Peaks, Short-Term Bearish Trend Emerges

CHF/JPY: Bullish Momentum Peaks, Short-Term Bearish Trend Emerges

FOREX
Kelvin Wong
China's Caixin Services PMI Slides to 51.8, UK100 Recovers from Earlier Losses, and Potential Breakout Confirmation Signals in Focus

China's Caixin Services PMI Slides to 51.8, UK100 Recovers from Earlier Losses, and Potential Breakout Confirmation Signals in Focus

FOREX
Kelvin Wong
Loonie Strengthens Amidst Oil Price Surge; Potential for $100 Oil Risk Remains

Loonie Strengthens Amidst Oil Price Surge; Potential for $100 Oil Risk Remains

FOREX
Kelvin Wong
USD/JPY Tops Majors in Past Month; Strong Verbal Intervention from Japan's Ministry of Finance as Resistance Nears

USD/JPY Tops Majors in Past Month; Strong Verbal Intervention from Japan's Ministry of Finance as Resistance Nears

FOREX
Kelvin Wong
AUD/USD Awaits RBA Decision: Technical Analysis and Trends

AUD/USD Awaits RBA Decision: Technical Analysis and Trends

FOREX
Kelvin Wong
Brent Crude Prices Approach $90 with Continued Momentum

Brent Crude Prices Approach $90 with Continued Momentum

FOREX
Kelvin Wong
Swiss Retail Sales Decline, Inflation Expected to Dip, US Unemployment Claims Drop

Swiss Retail Sales Decline, Inflation Expected to Dip, US Unemployment Claims Drop

FOREX
Kelvin Wong
Eurozone Inflation Mixes Signals as ECB Faces Tough Decisions

Eurozone Inflation Mixes Signals as ECB Faces Tough Decisions

FOREX
Kelvin Wong
Hong Kong 33 Index Technical Analysis: Key Levels and Countertrend Potential

Hong Kong 33 Index Technical Analysis: Key Levels and Countertrend Potential

FOREX
Kelvin Wong
AUD/USD Analysis: Medium-Term Downtrend Reaches Oversold Condition, Eyes on Key Support

AUD/USD Analysis: Medium-Term Downtrend Reaches Oversold Condition, Eyes on Key Support

FOREX
Kelvin Wong
Nasdaq 100 Faces Bearish Resistance After Nvidia's Exuberance

Nasdaq 100 Faces Bearish Resistance After Nvidia's Exuberance

FOREX
Kelvin Wong
CHF Strengthens Against USD: Bullish Exhaustion Signals Potential Downtrend Continuation

CHF Strengthens Against USD: Bullish Exhaustion Signals Potential Downtrend Continuation

FOREX
Kelvin Wong
WTI Oil Shows Signs of Short-Term Uptrend Amid Medium-Term Uptrend Phase

WTI Oil Shows Signs of Short-Term Uptrend Amid Medium-Term Uptrend Phase

FOREX
Kelvin Wong
AUD/JPY: Weak Medium-Term Momentum Points to Potential Downtrend Phase

AUD/JPY: Weak Medium-Term Momentum Points to Potential Downtrend Phase

FOREX
Kelvin Wong
Nikkei 225 Technical Analysis: Potential Rebound as Key Support Nears

Nikkei 225 Technical Analysis: Potential Rebound as Key Support Nears

FOREX
Kelvin Wong
WTI Oil Update: Bullish Breakout Rally Faces Correction Amid China's Rate Cuts

WTI Oil Update: Bullish Breakout Rally Faces Correction Amid China's Rate Cuts

FOREX
Kelvin Wong
Kiwi Faces Depreciation Pressure: RBNZ Expected to Hold Rates Amidst Downward Momentum

Kiwi Faces Depreciation Pressure: RBNZ Expected to Hold Rates Amidst Downward Momentum

FOREX
Kelvin Wong
AUD/USD Underperforms Amid Split Views on RBA's Monetary Policy Decision

AUD/USD Underperforms Amid Split Views on RBA's Monetary Policy Decision

FOREX
Kelvin Wong
China's Politburo Meeting Sparks Positive Sentiment in Markets and Affects Yuan's Performance

China's Politburo Meeting Sparks Positive Sentiment in Markets and Affects Yuan's Performance

FOREX
Kelvin Wong
Short-term downside momentum in Gold (XAU/USD) shows signs of easing, with bullish divergence signal

Short-term downside momentum in Gold (XAU/USD) shows signs of easing, with bullish divergence signal

FOREX
Kelvin Wong
Gold (XAU/USD) Maintains Medium-Term Uptrend Despite Recent Slide

Gold (XAU/USD) Maintains Medium-Term Uptrend Despite Recent Slide

FOREX
Kelvin Wong
AUD/USD Rebounds at Key Support as China's Policy Boosts Aussie Dollar

AUD/USD Rebounds at Key Support as China's Policy Boosts Aussie Dollar

FOREX
Kelvin Wong
Nasdaq 100 Underperforms and Faces Key Resistance - Technical Analysis and Market Outlook

Nasdaq 100 Underperforms and Faces Key Resistance - Technical Analysis and Market Outlook

FOREX
Kelvin Wong
FOMO and Complacency in US Technology Stocks: Risks of Medium-Term Downside Pressure Amidst Strong Gains in Banks

FOMO and Complacency in US Technology Stocks: Risks of Medium-Term Downside Pressure Amidst Strong Gains in Banks

FOREX
Kelvin Wong
Hang Seng Index Plummets -2% Amid Weak China Data, Short-Term Trend Intact

Hang Seng Index Plummets -2% Amid Weak China Data, Short-Term Trend Intact

FOREX
Kelvin Wong
AUD/USD Breaks above 200-Day Moving Average, Short-Term Uptrend in Focus

AUD/USD Breaks above 200-Day Moving Average, Short-Term Uptrend in Focus

FOREX
Kelvin Wong
China's Internal Demand Deteriorates, PBoC Holds Key Interest Rate Amidst Risk of Liquidity Trap

China's Internal Demand Deteriorates, PBoC Holds Key Interest Rate Amidst Risk of Liquidity Trap

FOREX
Kelvin Wong
Disinflationary Narrative Mispriced as Weak US Dollar Boosts Commodities and Inflation Expectations

Disinflationary Narrative Mispriced as Weak US Dollar Boosts Commodities and Inflation Expectations

FOREX
Kelvin Wong
AUD/USD Technical Analysis: Short-Term Momentum Turns Negative, Key Resistance at 0.6720

AUD/USD Technical Analysis: Short-Term Momentum Turns Negative, Key Resistance at 0.6720

FOREX
Kelvin Wong
Bullish Reversal Potential as Price Actions Show Oversold Condition and Bullish Candlestick Pattern

Bullish Reversal Potential as Price Actions Show Oversold Condition and Bullish Candlestick Pattern

FOREX
Kelvin Wong
Nikkei 225: Reversal Potential as Support Level Nears Key Medium-Term Level

Nikkei 225: Reversal Potential as Support Level Nears Key Medium-Term Level

FOREX
Kelvin Wong
Waning Historical Correlation Between Gold and US Treasury 10-Year Real Yield Amid Geopolitical Risk

Waning Historical Correlation Between Gold and US Treasury 10-Year Real Yield Amid Geopolitical Risk

FOREX
Kelvin Wong
Geopolitical Tensions Rise as China Imposes Export Curbs on Key Metals; Hang Seng Index Surges

Geopolitical Tensions Rise as China Imposes Export Curbs on Key Metals; Hang Seng Index Surges

FOREX
Kelvin Wong
AUD/USD Rebounds and Eyes Key Resistance Levels Amid RBA Decision and Positive Momentum

AUD/USD Rebounds and Eyes Key Resistance Levels Amid RBA Decision and Positive Momentum

FOREX
Kelvin Wong
Global Manufacturing Hubs Show Weakness, US and Japan Stocks Bullish Despite Recession Risk

Global Manufacturing Hubs Show Weakness, US and Japan Stocks Bullish Despite Recession Risk

FOREX
Kelvin Wong
Russia's Weekend Mutiny Raises Concerns About Putin's Power Grip; Market Highlights: Gold Support, FX Intervention, and Fed's Stress Test Results

Russia's Weekend Mutiny Raises Concerns About Putin's Power Grip; Market Highlights: Gold Support, FX Intervention, and Fed's Stress Test Results

FOREX
Kelvin Wong
Nasdaq 100 Faces Bearish Breakdown Below Ascending Wedge and RSI Momentum Indicator

Nasdaq 100 Faces Bearish Breakdown Below Ascending Wedge and RSI Momentum Indicator

STOCKS
Kelvin Wong
Russia's Weekend Mutiny and Gold's Bounce off Support Raise Concerns; Verbal Intervention in USD/JPY and US Banking Stocks Tumble Ahead of Fed's Stress Test Results

Russia's Weekend Mutiny and Gold's Bounce off Support Raise Concerns; Verbal Intervention in USD/JPY and US Banking Stocks Tumble Ahead of Fed's Stress Test Results

FOREX
Kelvin Wong
Dow Jones Struggles in Sideways Range as Resistance Holds Strong

Dow Jones Struggles in Sideways Range as Resistance Holds Strong

ECONOMY
Kelvin Wong
USD/JPY Rally Faces Key Resistance as Inflation Data Release Approaches

USD/JPY Rally Faces Key Resistance as Inflation Data Release Approaches

FOREX
Kelvin Wong
Kelvin Wong provides us with a technical analysis of gold price| FXMAG.COM

Kelvin Wong provides us with a technical analysis of gold price

COMMODITIES
Kelvin Wong
RBA Meeting Minutes - policymakers were concerned about weak productivity growth that would trigger inflation risk| FXMAG.COM

RBA Meeting Minutes - policymakers were concerned about weak productivity growth that would trigger inflation risk

FOREX
Kelvin Wong
China: manufacturing activities slipped back to contraction in April. Technical look at China A50| FXMAG.COM

China: manufacturing activities slipped back to contraction in April. Technical look at China A50

FOREX
Kelvin Wong
Bank of England is expected to hike the rate by 25bp. Kelvin Wong talks Euro against British pound| FXMAG.COM

Bank of England is expected to hike the rate by 25bp. Kelvin Wong talks Euro against British pound

FOREX
Kelvin Wong
A proxy of global food prices, Invesco DB Agriculture ETF, has continued to increase to a 12-month high| FXMAG.COM

A proxy of global food prices, Invesco DB Agriculture ETF, has continued to increase to a 12-month high

ECONOMY
Kelvin Wong
Kelvin Wong presents technical look at WTI crude oil price - May 8th| FXMAG.COM

Kelvin Wong presents technical look at WTI crude oil price - May 8th

COMMODITIES
Kelvin Wong
On Friday, the major currencies that were weaker than USD were Swiss franc and Japanese yen| FXMAG.COM

On Friday, the major currencies that were weaker than USD were Swiss franc and Japanese yen

FOREX
Kelvin Wong
China: Caixin Services PMI decreased after four consecutive months of increase| FXMAG.COM

China: Caixin Services PMI decreased after four consecutive months of increase

FOREX
Kelvin Wong
Bank of Japan choose not to rise the rates, institution highlighted it will need some to time to conduct a review of monetary policy guidance| FXMAG.COM

Bank of Japan choose not to rise the rates, institution highlighted it will need some to time to conduct a review of monetary policy guidance

FOREX
Kelvin Wong
Kelvin Wong talks JGB, US dollar against Japanese yen and more| FXMAG.COM

Kelvin Wong talks JGB, US dollar against Japanese yen and more

FOREX
Kelvin Wong
According to Oanda's analyst, bullish bias on gold is supported by de-dollarization, US-China High Tech War and more| FXMAG.COM

According to Oanda's analyst, bullish bias on gold is supported by de-dollarization, US-China High Tech War and more

COMMODITIES
Kelvin Wong
PBoC lack of further liquidity-pumping measures is said to be the one of the reasons which have reinforced the recent round of profit taking in, e.g. CSI 300 and A50| FXMAG.COM

PBoC lack of further liquidity-pumping measures is said to be the one of the reasons which have reinforced the recent round of profit taking in, e.g. CSI 300 and A50

STOCKS
Kelvin Wong
According to Oanda's Kelvin Wong, the latest Japan's economic data don't seem to play in favour of the continuation of ultra-easy monetary policy| FXMAG.COM

According to Oanda's Kelvin Wong, the latest Japan's economic data don't seem to play in favour of the continuation of ultra-easy monetary policy

FOREX
Kelvin Wong
US Treasury yields have increased since 13 April. VIX has decreased to a 14-month low| FXMAG.COM

US Treasury yields have increased since 13 April. VIX has decreased to a 14-month low

FOREX
Kelvin Wong
Suprisingly, Nikkei 225 is still more than 30% below its ATH (printed in 1989)| FXMAG.COM

Suprisingly, Nikkei 225 is still more than 30% below its ATH (printed in 1989)

FOREX
Kelvin Wong
Oanda analyst: "Australian dollar tends to have a positive correlation with China's growth"| FXMAG.COM

Oanda analyst: "Australian dollar tends to have a positive correlation with China's growth"

FOREX
Kelvin Wong
Judging from integrated technical analysis US dollar may face further downside pressure if...| FXMAG.COM

Judging from integrated technical analysis US dollar may face further downside pressure if...

FOREX
Kelvin Wong