Gold’s Weekly Update: Gold bulls take a breather
In today’s report, we are to discuss the main fundamental issues surrounding gold’s price as well as any financial releases that could affect its direction and conclude the report with gold’s daily chart. Revival of USD’s and gold’s negative correlation? The fact that gold’s price corrected lower on Friday, while the USD edged higher tended […]
Oil Weekly Update: Planned output hikes drag crude futures lower
Technical Analysis of Oil WTI Chart – Negative momentum drives WTI prices closer to fresh 4 year lows As oversupply worries persevered this week, energy bears managed to overpower the bullish momentum capping the commodity’s break above the $63.60 (R1) resistance level and pushed prices closer to the $60.00 per barrel (S1) support area. Given […]
Gold’s Weekly Update: Temporary stabilisation of the precious metal’s price
Gold’s price seems to have halted its drop since last Wednesday with the prospect of some temporary stabilisation in sight. On a fundamental level we note the following: Technical analysis Technically Gold’s price, despite some efforts by the bears to bring the precious metal’s price lower, was unable to clearly break the 3200 (S1) […]
Oil Weekly Update: US-China 90-day truce deal raises optimism for higher consumption
Technical Analysis of Oil WTI Chart – Negative momentum drives WTI prices closer to fresh 4 year lows Earlier this week the bulls managed stay ahead and overpower the strength of the bears, aiding the commodity higher closer to tis former April highs. Given this move we are forced to alter our bias from bearish […]
Gold’s Weekly Update: Market Optimism Pressures Gold
Gold’s price dropped a drop that started on Wednesday and was renewed today and seems to adopt a bearish outlook, yet that may not be that clear yet. On a fundamental level we note the following: Technical analysis On a technical level, we note that it’s been a roller coaster week for the precious […]
Oil Weekly Update: Hopes for US-China deal keeps WTI away from 4 year lows
Technical Analysis of Oil WTI Chart – Negative momentum drives WTI prices closer to fresh 4 year lows The commodity has been gyrating between the $60.00 (R1) resistance and $55.15 (S1) support levels over the past week, as the bulls managed to counter the strength of the bears and contain the price from dropping into […]
Gold’s Weekly Update: Gold’s price jumps in sign of indecisiveness
Gold’s price jumped in today’s Asian session, interrupting its downward motion over the past week, leaving traders puzzled about its direction. On a fundamental level we note the following: Technical analysis Technically we note the rise of gold’s price after bouncing on the 3200 (S1) support line last Thursday. For the time being we […]
Oil Weekly Update: WTI traders await for critical OPEC+ meeting details
Technical Analysis of Oil WTI Chart – Negative momentum drives WTI prices closer to fresh 4 year lows After a brief period of consolidation last week, negative momentum strengthened as buying interest dissipated and the bears regained control of the commodity’s price, dragging it closer to the $55.15 support area. We maintain our bias for […]
Oil Weekly Update: Trump eyes China talks, WTI steadies
Technical Analysis of Oil WTI Chart – Crude swings violently amidst tariff uncertainty After a few tumultuous weeks filled with volatility, crude futures managed to consolidate close to the $63 per barrel area after a heavy dosage of technical dip buying activity. We continue to hold a bearish outlook bias for the commodity, merely on […]
Gold’s Weekly Update: prices breaks to new record high levels.
With gold’s price rallying to new record high levels since last Wednesday, interest in the precious metal has been renewed. On a fundamental level we note the following: Technical analysis On a technical level, we highlight that gold’s price recovered fully from its drop on the 3rd to the 7th of the month, mentioned […]
Oil Weekly Update: Fears for global trade war weigh down
Technical Analysis of Oil WTI Chart – Crude sinks by over 4.5% the day after Trump’s tariff package announcement Negative momentum surrounding crude oil futures ignited after Trump’s bombastically aggressive tariff plans sparked fears for a global economic slowdown and a severe dent in oil’s demand, pushing traders to short WTI and quickly drag the […]
Gold’s Weekly Update: Gold bulls take a breather
In today’s report, we are to discuss the main fundamental issues surrounding gold’s price as well as any financial releases that could affect its direction and conclude the report with gold’s daily chart. Revival of USD’s and gold’s negative correlation? The fact that gold’s price corrected lower on Friday, while the USD edged higher tended […]