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Oil, Crude, trading

Mixed and predominantly negative trades characterized the movements of US crude oil futures, reaching a low of $67.74 per barrel, with current intraday stability around $69.50. From a technical perspective, the simple moving averages continue to exert downward pressure on the price from above. A closer look at the 4-hour …

Gold prices experienced a positive trading session as they sought to consolidate around the crucial support floor established in 2024, reaching a pinnacle at $2047 per ounce. In today’s technical analysis, a detailed examination of the 4-hour time frame chart reveals that the price remains steadfastly above the 2024 level, …

The euro displayed a favorable trading session against the US dollar, aligning with the anticipated upward trajectory and reaching the specified target of 1.1000, marking its peak at 1.1009 according to the latest technical report. Upon a meticulous examination of the 4-hour time frame chart in today’s technical analysis, it …

The US dollar has been softer despite the recent slew of US data, including Retail Sales and Jobless claims. The US Dollar Index dropped further on Thursday, extending the negative momentum that followed the FOMC statement. The dovish signals from the Fed have weighed on the US Dollar, which remains …

EUR/GBP traded slightly lower in Thursday’s session, remaining pinned at 0.8610. The daily chart shows a neutral to bearish outlook, with buyers struggling to gain traction. The Relative Strength Index (RSI) is in negative territory, signaling continued downward momentum. The Moving Average Convergence Divergence (MACD) shows red bars, indicating bears …

The US dollar is experiencing a weakening trend, with the DXY Index hovering around 101.90, its lowest level since August. The Fed’s announcement of three rate cuts for 2024 has weighed heavily on US Treasury yields and the dollar. The Fed’s stance aligns with market expectations, fueling risk-on flows. Despite …

WTI tried to regain some ground on Thursday, it was moving back above $72.50, before settling at $71.88 per barrel as at the time of writing, yet it is still up by some 2.61% Crude prices are still well below their previous peaks. Investors continue to have doubts that output …

Palladium headed for its biggest gain since March 2020 as the UK government targeted Russian metals — but not palladium — with new sanctions.The metal that is mainly used in catalytic converters surged as much as 12% on Thursday after the UK published measures that ban British citizens and entities …