Tag Archives: Oil

The Non-Farm Payrolls report has been the dominant market for the past week. Nonfarm Payrolls in the US rose by 315,000 in August, this reading followed July’s increase of 526,000 (revised from 528,000) and came in slightly better than the market expectation of 300,000. The Unemployment Rate rose to 3.7% …

The USD/JPY modestly fell on Friday, after hitting earlier at 140.79, the highest level since 1998. The weaker US Dollar impacted the pair following the official US employment report.gold traded at $1711.40 versus the previous closing price at $1696. Although gold was relieved by $20 rally after the key US …

Oil prices rose on Friday, thanks to expectations that the OPEC + cartel will discuss production cuts at a meeting on the fifth of September, but concerns about restrictions to combat Covid-19 in China and the weakness of the global economy continued to limit the gains. By 1140 GMT, Brent …

US crude oil futures prices could continue achieving the bearish targets as we expected, bypassing the official price target station of 86.50 to record the lowest level at 85.97. On the technical side, the current movements are witnessing a bullish trend, as a result of the price gaining positive momentum …

Oil prices continued declining in Thursday’s trading, with the rise of the dollar and increasing concerns about demand, in addition to the reduction of the joint technical committee of OPEC + its forecast for the excess oil supply during this year. In China, closures will be imposed in the city …

Significant losses witnessed the movements of US crude oil futures prices after it failed to maintain trading above the main support level of 93.50 to start a strong downward trend as we expected yesterday, surpassing the required target of 89.50 to record its lowest level at 88.23. Technically, prices settled …

Gold is lacking momentum at the moment as prices trend lower towards $1,700 an ounce, but some analysts still believe that chances for further downside are limited.Gold prices are modestly down on Wednesday but off lows. During the US session, gold briefly rebounded from the one-month low at $1,709 and …

Oil prices continued their decline on Wednesday as investors worried about the weakness of the global economy and the possibility that central banks will raise interest rates and increase restrictions to curb the outbreak of COVID-19 in China. US West Texas Intermediate crude contracts fell $2.58, or 2.82 percent, to …

US crude oil futures prices reversed the expected bullish trend during the previous analysis, in which we depended on the stability of trading above the 94.70 support floor. Breaking 94.70 postpones the idea of ​​the rise and puts the price under temporary negative pressure targeting 93.60, recording its lowest level …

US crude oil prices continue to achieve gains within the targeted upward path, bypassing the official station required to be touched during the report issued yesterday at 96.40, recording its highest level of 97.36. Technically, we find that the simple moving averages continue to provide a positive stimulus that supports …