Oil prices increased slightly on Thursday as US inventory data surprised to the upside, indicating better-than-expected demand. At the same time, investors lowered their expectations for an increase in production at OPEC’s June meeting. WTI, Crude inventories (Source: Bloomberg, EIA) Notably, data on Wednesday revealed that US crude inventories fell by 1.4 million barrels last Read More…
MSCI Index Rises and Hong Kong’s Hang Seng Extends Winning Streak The MSCI’s broadest index of Asia-Pacific shares outside Japan saw a slight increase in early trade, while Hong Kong’s Hang Seng index, despite a slight dip, has witnessed an impressive 14% rise over a 10-day winning streak, the longest since 2018. Japan’s Nikkei index Read More…
Overview In this analysis, we’ll take a closer look at the CL futures chart, which displays daily price action along with several technical indicators, including a Simple Moving Average (SMA), Pivot Points (traditional, automatic setting), and the Relative Strength Index (RSI). CL Technical Analysis Trend and Price Action Prices were in an uptrend from February Read More…
Oil prices fell on Wednesday after a surprise jump in US crude inventories. Additionally, the Fed policy meeting ended with a hawkish note, meaning more rate-cut delays. At the same time, there was hope in the market of a ceasefire in the Middle East war, which weighed on prices. The EIA reported that US crude Read More…
NASDAQ Chart Overview In this chart, we’re looking at the NASDAQ 100 E-mini Futures (10-minute intervals) along with the Simple Moving Average (SMA), Relative Strength Index (RSI), and Volume Profile Visible Range (VPVR) indicators. Price Action and Technical Patterns Channel and Breakout Analysis We can see that the price was trading within an ascending channel, Read More…
Oil prices fell on Wednesday as investors shifted their focus from Middle East tensions to demand concerns. This shift came as the risk of an escalation in the conflict between Israel and Iran fell. Meanwhile, poor economic data from the US raised concerns about weak demand in the country. WTI, crude inventories (Source: Bloomberg, EIA) Read More…
