Oil prices rose slightly on Monday due to supply concerns as jitters in the Middle East escalated. However, trading volume was thin as US markets were closed for the President’s Day holiday. Moreover, markets were closed earlier than usual. WTI and Brent futures (Source: ICE, Nymex) Oil has risen as supply concerns due to Middle Read More…
Weekly Chart The weekly chart has formed spinning tops near the recent all-time high. This tells us that there is indecision in the market. The RSI is currently overbought at 71.31. before the formation of the spinning tops there was only 1 red week out of 14. This amount of bullish price action cannot last Read More…
Currency futures rose on Friday, despite a higher-than-expected reading in the US PPI report. Meanwhile, the dollar closed lower on Friday after rallying during the week as traders pushed back expectations for rate cuts. US wholesale prices (Source: Bureau of Labor Statistics) The Producer Price Index was the second report of the week, showing much Read More…
What Is Trend Trading? Trend trading is one of the most popular strategies in financial markets, appealing to both novice and seasoned traders alike. At its core, it simply involves identifying and following the direction of market movements, which is why it is important to understand how to read trends correctly and if there is Read More…
After a surprise decline in retail sales renewed rate-cut bets, interest futures rose on Thursday. On the other hand, the report sent Treasury yields lower. The decrease in retail sales indicated a slowing economy, reducing some of the impact of the upbeat inflation report on Tuesday. Meanwhile, investors also assessed labor market data. US retail Read More…
Oil prices fell on Wednesday due to a surge in crude inventories. When fuel stocks in the US increase, it is a sign that demand has dropped. WTI futures (Source: Bloomberg, EIA) Moreover, a drop in refining in the US led to a bigger-than-expected build in inventories. US refining slowed significantly during the cold weather. Read More…
