A bearish trend dominated US crude oil futures, aligning with the previous technical outlook, as the price successfully touched the $72.30 target. Technical Outlook: Simple moving averages continue to pressure prices downward. The price remains below the previously broken support at $73.90, now acting as a resistance level. Key Levels …
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Gold managed to establish strong support above $2740, rebounding higher in the previous session and reaching $2766 per ounce. Technical Outlook: The price remains above the 50-day simple moving average, reinforcing bullish momentum. The Stochastic indicator shows positive signals, suggesting further upside potential. Key Levels to Watch: Above $2770: A …
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Negative pressure continues to dominate U.S. crude oil futures, with prices reaching a low of $72.95 per barrel during the previous session. From a technical perspective, the 4-hour chart reveals a bearish head and shoulders formation, with the price remaining below 74.25, further pressured by negative signals from the simple …
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In the previous report, we maintained a neutral stance due to conflicting technical signals, noting that a confirmed breach of the 2755 resistance level could lead to a new upward wave, targeting 2765, with the price reaching a high of $2766 per ounce. From a technical perspective today, the 4-hour …
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A bearish trend dominated US crude oil futures prices during the early trading sessions this week, with prices reaching their lowest level at $72.42 per barrel. From a technical standpoint, examining the 4-hour chart reveals the formation of a bearish inverted head and shoulders pattern. Additionally, oil prices remain below …
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Negative trading dominated gold’s movements as anticipated in the previous report, reaching the first target of 2735 and recording its lowest level at $2730 per ounce. Today’s technical outlook suggests the possibility of continuing the downward trend. However, upon closer examination, there appears to be a conflict between technical indicators. …
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Last week was eventful, marked by a series of significant developments. These included policy directions anticipated from President-elect Donald Trump’s administration, future paths for central banks, particularly the Federal Reserve, and the impact of key US economic releases. The Eurozone has seen significant developments, particularly CPI front. Several European leaders …
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US crude oil futures posted notable gains during the previous session, aligning with the positive outlook outlined in the prior report. The price reached the official target of 73.00, recording a high of $73.69 per barrel. Technical Outlook:The technical indicators continue to favor a bullish bias. The simple moving averages …
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Gold prices surged during the previous trading session, successfully breaching the strong resistance level highlighted in the previous report. This breach temporarily halted the downward trend and triggered a rise, with the metal reaching a high of $2665 per ounce, surpassing the initial targets of 2645 and 2657. Technical Outlook:A …
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US crude oil futures maintained an upward trajectory in line with the positive outlook outlined in the previous report, successfully reaching the anticipated target of $72.20 and recording a peak of $72.25 per barrel. Technical Outlook:The bullish bias remains dominant, supported by positive momentum from the simple moving averages and …
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