Introduction Crude Oil has bounced this month after dropping from highs of around $105 earlier this year to below $70. We know this was all driven by the conflict in the Middle East, and as the markets digested what was going on, now this bounce is another attempt for CL to get back up testing Read More…
Oil paused its rally on Wednesday as traders took time to assess developments in the Iran war. In the previous sessions, it rallied as the US and Iran went back to missile and drone attacks, and progress made in recent talks was undone. At the same time, market participants were digesting downbeat US inflation numbers. Read More…
Introduction This is a follow-up to the 6 July analysis, where the call was for a shallow pullback after the breakout to new highs, with 52,500 and the 50-day MA flagged as the levels to watch for a bullish reaction. That’s largely played out — price pulled back after tagging the low-53,000s, held above 52,500, Read More…
Gold prices pulled back on Wednesday after jumping by more than 2% the previous session. A downbeat US consumer inflation report led to a drop in expectations for a Fed rate hike, which favored the yellow metal. However, sentiment shifted on Wednesday as focus returned to tensions in the Middle East. US inflation (Source: Bloomberg) Read More…
Equities fell on Monday as tensions in the Middle East worsened after the US announced it would reinstate its blockade on Iranian shipping. As a result, oil prices jumped, and expectations of a Fed rate hike increased. At the same time, market participants are looking forward to the US CPI report coming out later in Read More…
Introduction NQ closed at red to start the week off, below its 50-day moving average (29,801.12) for the first time since this leg of the rally began. Price also dipped as low as 29,303.25 intraday, testing the rising trendline off the recent triangle before bouncing back. Combined with a bearish MACD reading, this is the Read More…
