On Wednesday, oil prices fell by more than a dollar a barrel, ending a three-day rally. The drop came after economic data suggested that the US Federal Reserve may hike interest rates further. US consumer prices rose in April, potentially increasing the likelihood of higher interest rates. Global interest rate increases have worried traders about Read More…
Technical analysis MACD: The MACD is in the red on the daily chart showing some divergence. The buying pressure is weakening and is being translated for us easily in the MACD histogram. Price: The Euro has begun to for a rolling over pattern as it struggles to break above 1.106. We can see from the chart that Read More…
Technical analysis CL remains within the range we have been monitoring in almost every article this year made on crude futures. This range refuses to be broken in either direction. We can keep the technical analysis very simple with this trade as a huge spinning top has formed at the bottom of a 3-week sell-off. Read More…
Oil prices fell 4% on Wednesday after the US Federal Reserve increased interest rates and as investors worried about the economy. Oil fell by 5% in the previous session, experiencing its largest daily percentage fall since early January. The Fed lifted interest rates by a quarter of a percentage point on Wednesday afternoon. This rate Read More…
Oil fell by about 4% on Wednesday as concerns about the world’s largest economy’s impending recession deepened. Oil fell even after a survey revealed that US crude stocks decreased more than anticipated. Energy Information Administration data showed that US oil stockpiles declined by 5.1 million barrels last week to 460.9 million. It was above analyst Read More…
Overview Crude Oil has been an interesting one to watch this year as we see prices bounce around within the $70 and $80 range. Range-bound traders have been able to capitalize on these moves while trend traders have been struggling. Technical analysis The gap has been filled that we mentioned last week. The bears have taken Read More…
