Oil prices fell further on Thursday as easing geopolitical tensions improved the outlook for global supply. Market participants are keeping a close eye on talks in Qatar, which are progressing well despite the hostilities witnessed over the weekend. Meanwhile, the US is set to release its pivotal monthly employment report later today. Brent Performance (Source: Read More…
Introduction Most traders believe the key to success in financial markets is finding the perfect strategy. They spend months testing indicators, switching systems, watching YouTube videos, and searching for the ‘holy grail’ that finally changes everything. At first, this feels like progress because learning new concepts creates the impression that success is getting closer. But Read More…
Introduction Crude oil futures continue to weaken following our previous analysis, with sellers pushing below the important support level at $74. This was a very important zone to stay above for the bullish case to remain intact, as the market is now starting to turn bearish rather than consolidating within a longer-term uptrend. The market Read More…
Introduction Russell 2000 futures continue to quietly outperform after the sharp recovery from the April lows. While the S&P 500 and Nasdaq have received most of the attention, small caps have steadily climbed higher, pushing into fresh yearly highs. The price remains firmly bullish, though it might not be as strong as the rally we Read More…
Oil prices fell nearly 4% on Wednesday, extending declines caused by the reopening of the Strait of Hormuz. Meanwhile, market participants are paying close attention to ongoing talks between the US and Iran for a longer-lasting peace deal. Brent futures (Source: ICE Futures Europe) Sentiment in the oil market shifted significantly last week after the Read More…
Introduction Since our June 16 analysis, crude oil has done exactly what we suggested was the most likely outcome. Rather than immediately breaking lower toward $70, buyers stepped in at the $74-$76 support zone and managed to stabilize price. This support area was the last major level we highlighted before the 200-day moving average near Read More…
