Crude Prices continue to fall with a multi-year trend line broken to the downside The next support level to watch is $87.61 Inventory Report will be the main focus for Investors on Wednesday Crude Oil has traded down since our last technical analysis overview of the commodity with prices now at $85.47 per barrel. Once Read More…
Gold prices on the rise due to dollar weakness. The yellow metal might go higher still if the Federal Reserve becomes less hawkish. The Fed’s Daly is open to a more significant rate hike than the expected 50bps. Broader dollar weakness has left the bullion on course for its fourth consecutive weekly gain. US gold Read More…
Last week saw an uptick in US gasoline consumption. US oil refiners and pipeline operators forecast higher energy demand in the second half of 2022. Russia resumes oil supply to Europe via the Druzhba pipeline. Investors flocked to riskier assets in response to lower-than-expected US inflation statistics and promising news on US gasoline consumption. According Read More…
Markets expect the Federal Reserve to take action against rising inflation. Nvidia expects a 19% drop in Q2 revenue. Tesla shares rose 0.8% after announcing contracts worth around $5 billion. Wall Street ended Monday’s trading day unchanged after last week’s massive jobs report confirmed expectations that the Federal Reserve will take action against inflation. Stock Read More…
Investors await US jobs data for clues on Fed’s monetary policy. S&P 500 suffered losses in oil stocks as oil prices fell. On the charts, a retest of the 50-SMA could be a possibility as bulls show weakness. The E-mini S&P 500 (ES) futures price remains range-bound ahead of the key US jobs data release. Read More…
Crude oil futures trading sideways ahead of the OPEC+ meeting. The demand for crude oil decreases amid a poor global economy. The crude oil price is technically within a pennant, looking for a bearish breakout. Following a drop of 1% in the previous trading session, crude oil (CL) futures prices were flat on Wednesday ahead Read More…
