US crude oil futures prices continue to incur losses amid strong selling, as we expected, exceeding the bearish targets required to be achieved during the previous technical report at 86.60, recording its lowest level at $84.20 per barrel. Technically, by looking at the 4-hour time frame chart, we find the …
Read More »Gold: careful consideration required 5/10/2023
Gold trading was limited during the previous trading session from the bottom above the recently recorded low at 1815 and from the top below the 1830 resistance level without any significant change. Technically, by looking at the 4-hour time frame chart, we find positive crossover signals beginning to appear on …
Read More »Euro: limited positivity needs confirmations 5/10/2023
Limited positive attempts dominated the movements of the EUR/USD pair during the last session’s trading, to retest the psychological barrier resistance level of 1.0500, with the current movements witnessing attempts to consolidate above them. From the point of view of technical analysis today, and with a closer look at the …
Read More »Reuters: The OPEC+ will likely not change its production policy
OPEC+ sources told Reuters that the alliance is unlikely to change its current oil production policy when the Joint Ministerial Monitoring Committee meets on Wednesday, while Saudi Arabia and Russia said they would maintain voluntary supply cuts to support the market. Ministers of the Organization of the Petroleum Exporting Countries …
Read More »Gold declines as dollar and bond yields rise
Gold prices returned on Wednesday, heading towards the lowest level in seven months, in light of the rise in the dollar and Treasury bond yields after strong US jobs data, which maintained expectations of further monetary tightening, while palladium fell to its lowest level since late 2018. Spot gold prices …
Read More »Bond rally keeps European stocks lower for third day
European stocks were affected for the third day in a row on Wednesday by the significant effects on US and European stock returns in general due to the presence of a large number of investors for the idea and thus the severe negative impact of the small run out. The …
Read More »Yen is close to 150 to USD amid speculation that authorities have intervened
On Wednesday, the Japanese yen fell slightly against the dollar after its unexpected rise in the previous session, which raised speculation that the Japanese authorities intervened to support the currency. The Japanese currency fell slightly to 149.12 to the dollar in early Asian trading, after jumping about two percent during …
Read More »Oil fell amid fears of rising interest rates and ahead of an OPEC+ meeting
Oil prices fell on Wednesday ahead of a meeting of a committee of OPEC+ ministers as the market balanced expectations of supply shortages with fears that higher interest rates would reduce demand for oil. Brent crude futures fell six cents to $90.86 a barrel by 0345 GMT, while US West …
Read More »Nasdaq breaks support 4/10/2023
Oil, Crude, trading
Read More »Dow Jones touches down on the extended target 4/10/2023
Oil, Crude, trading
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