We remained neutral during the previous technical report due to a conflict between the technical signals to find that oil prices did not witness noticeable movements in the last session within a narrow sideways path, and the current movements witness stability around $69.70 per barrel. Technically, the contradiction between the …
Read More »Noor Capital | Mohammad Hashad Interview on the Dubai TV – June 26, 2023
Dubai TV interviewed Mohamed Hashad, Director of Research and Development at Noor Capital and member of the US Association of Technical Analysts, to comment on whether the developments of geopolitical events clearly affect the performance of stock markets and the performance of commodities; Hashad began his commenting on oil prics, …
Read More »Oil needs to be monitored 26/6/2023
US crude oil futures prices touched the official target to be achieved by the end of last week’s trading, as we expected at 67.30, recording its lowest level at $67.03 per barrel. Technically, with a closer look at the 240-minute chart, the current trading has returned to stability above the …
Read More »Financial Markets’ Weekly Recap: June 19-23
The euro fell on Friday after data indicating stagnation in the growth of business activities in the single currency area this month, while the dollar received support from risk aversion and statements indicating continued monetary tightening from global central banks, including the Federal Reserve (Central US). The dollar index, which …
Read More »Noor Capital | Mohammad Hashad Interview on Dubai TV – June 23, 2023
Mohammad Hashad, Director of the Research and Development Department at Noor Capital and member of the US Association of Technical Analysts, commented on the developments of the global financial markets, especially the interest rate hike in the UK that exceeded expectations, as now experts began to expect that there is …
Read More »The British economy is faltering and price pressures are still high
A survey revealed that signs of a slowdown appeared in the British economy this month, and that inflation pressures remain high. The survey was published a day after the Bank of England raised interest rates sharply and said it was ready to do more to curb inflation. An initial reading …
Read More »Oil incurs huge losses 23/6/2023
US crude oil futures prices incurred large losses, invalidating the positive outlook of the previous report, in which we relied on trading stability above 71.55 when the report was issued. As a reminder, we indicated that the closing of the 4-hour candle below 71.50, and most importantly 71.20, invalidates the …
Read More »Oil is trying positively 22/6/2023
We adhered to intraday neutrality during the last report due to conflicting technical signals, explaining that the price’s consolidation above the primary resistance of the current trading levels located at 71.55 is leading oil to record gains, starting at 72.60, to succeed in touching the target, recording its highest level …
Read More »Oil is looking for a stronger trend 21/6/2023
Mixed trading in both directions dominated the prices of US crude oil futures contracts, nullifying the negative outlook as we expected, in which we relied on stable trading below the level of 71.55, recording its highest level at $72.33 per barrel. Technically, the current movements of oil prices are witnessing …
Read More »Oil retreats after China cut key interest rates less than expected
Oil prices fell on Tuesday after China cut its benchmark lending rates less than expected, raising further concerns about the outlook for oil demand in the world’s largest crude importer. Brent crude fell five cents to $76.04 a barrel at 0310 GMT. US West Texas Intermediate crude for July delivery …
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