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Oil, Crude, trading

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Oil, Crude, trading

US crude oil futures demonstrated the anticipated upward trend outlined in the previous technical report, supported by trading stability above the key level of 68.90. Technical Analysis: Bearish Indicators: The simple moving averages apply continued downward pressure. The 14-day momentum indicator reflects clear negative signals, favoring a bearish outlook. Scenario …

Gold continues to exhibit a sideways trend, trading within a narrow range confined between the support level at 2635 and resistance level at 2657 for several consecutive sessions. Technical Analysis: Positive Signals: The 50-day simple moving average provides upward pressure, hinting at the possibility of a bullish breakout. Negative Signals: …

The EUR/USD pair showed a modest upward trend, benefiting from the support level of 1.0470, and reached a session high of 1.0544 during the previous trading day. Technical Analysis: The pair struggled to break the critical resistance at 1.0540, as noted in the previous analysis. On the 4-hour chart, the …

Gold prices showed limited movement in Asian trading on Thursday, as improved risk appetite and a strong U.S. dollar weighed on safe-haven demand despite political turbulence in France and South Korea. Market Performance Spot Gold: Fell slightly to $2,649.09 an ounce. Gold Futures (February): Declined 0.1% to $2,672.99 an ounce …

Economic Uncertainty, Political UnrestThe recent fall of the French government has further destabilized the country’s economy, which is already struggling with flat growth and a heavy debt load. Following a no-confidence vote in Parliament on Wednesday, Prime Minister Michel Barnier and his cabinet were removed, leaving the country without a …

Oil prices declined on Wednesday as investors braced for a likely extension of production cuts by the OPEC+ alliance. While a significant drawdown in U.S. crude inventories offered some upward pressure, the market’s attention remained firmly fixed on the upcoming OPEC+ meeting. The organization is expected to extend its production …

Jerome Powell, Chairman of the Federal Reserve Board of Governors, said on Wednesday that he feels comfortable with the current stance of monetary policy and where it currently is, stressing that the US economy has been performing very well recently.Powell added: “The institutional relationship between the Fed and the US …