Oil prices continued falling on Thursday after ending the worst month in over three years. The recent decline came as market participants worried about oversupply as OPEC+ unwinds its output cuts. At the same time, Trump’s tariffs and the subsequent trade wars have dimmed the outlook for oil demand. Oil collapsed on Wednesday after Saudi Read More…
Recap from April 14 Outlook: In the last analysis, CL had just bounced from key support in the $57–$58 zone and was testing the underside of its former value area (~$66), attempting to confirm a higher low. We concluded that if CL couldn’t reclaim and hold above the 50-day SMA and resistance box, a return Read More…
Oil paused its decline on Thursday as sentiment improved on a likely trade deal between the US and China. At the same time, risk appetite improved after Trump stopped his attacks on Fed Chair Powell. However, prices fell over 2% in the previous session on reports that OPEC+ might increase output in June. The US Read More…
Introduction The pin bar is one of the most powerful and widely-used candlestick patterns in technical analysis. Found in every market and on every timeframe, the pin bar can signal trend reversals, continuations, and breakouts. But what exactly is a pin bar, how do you identify one, and most importantly, how do you trade it Read More…
Oil extended gains after the US imposed sanctions on Iranian oil imports. Moreover, prices are poised for a weekly gain amid concerns about supply. However, concerns about demand stemming from Trump’s tariff decisions are curbing gains. Oil futures (Source: ICE, Nymex) Trump imposed sanctions on Iran on Wednesday, targeting, in part, Chinese oil imports from Read More…
Introduction At age 34, Marco, a professional portfolio manager from Vienna, Austria, tried to prove his skills in the world of futures. Backed by a master’s degree in economics and five years of trading experience, Marco has made a total of $16,472 in withdrawals from two of his OneUp Trader accounts! Marco didn’t start from Read More…
