WTI Crude Oil The WTI Crude Oil market rallied during the session on Wednesday, breaking clearly above the $70 level. I believe that breaking above the $71 level also shows that we are ready to go much higher. I think the $72.50 level above is a target. Short-term pullbacks should be buying opportunities, as we…
Electricity-generating wind turbines are seen on a wind farm in the San Gorgonio Pass area on Earth Day, April 22, 2016, near Palm Springs, California. Photo credit DAVID MCNEW/AFP/Getty Images. The history of power production through the early part of the 21st century was very much a tale of nonrenewable energy resources. Power was produced primarily…
USD/CAD dropped sharply from 1.2997, breaking below 1.2870 support. Deeper decline to test 1.2803 support could be expected, a breakdown below this level would confirm that the upside movement from 1.2526 had completed at 1.2997 already, then the pair would find next support level at 1.2600.
Bank of England may pause rate hike after recent sluggish economic data, short GBP/USD? Odds of a rate hike at the BOE’s meeting have slumped close to 10% from around 90% in late-March amid signs of a slowing economy and after Carney warned that a hike in May was far from certain. Immediate market reaction…
AT40 = 60.3% of stocks are trading above their respective 40-day moving averages (DMAs)AT200 = 48.7% of stocks are trading above their respective 200DMAsVIX = 13.4Short-term Trading Call: neutral CommentaryThe “Apple Temptation” of the stock market seems to be working. For starters, after a 3 week run with a cautiously bearish short-term trading call, I have nudged the needle…
As economic benefits of last year’s Tax Cuts and Jobs Act begin to filter into the US economy, the S&P 500 Index appears to be headed towards a retest of its all-time high of 2872.87 set in January of this year, as shown on the monthly chart below. This record high was accompanied by an all-time momentum (MOM) high, as well…hinting of further strength…
Another pick up in the headline and core U.S. Consumer Price Index (CPI) may fuel the recent decline in EUR/USD as it puts pressure on the Federal Open Market Committee (FOMC) to adopt a more aggressive approach in normalizing monetary policy. Signs of above-target price growth may push Chairman Jerome Powell and Co. to adjust the dot-plot at the…
Gold and silver are referred to as precious metals because they have a high value per unit weight. This might seem self-evident. But why are they valued so highly, and does that mean they are a good investment for you? This subject can be more fraught with differing opinions than one might think. Different people have different…
After opening the day in green share markets in India witnessed choppy trading activity and are presently trading marginally below the dotted line. Sectoral indices are trading on a mixed note, with stocks in the oil and gas sector and stocks in the IT sector witnessing maximum buying interest. While stocks in the power sector are leading the losses. The BSE Sensex is trading down…
The geopolitical backdrop and news flow is creating ripples across commodity markets, and giving the rebound in crude oil a boost as tensions rise in the Middle East. But is it time to step up bullishness on the oil price? …or has the meat of the move already been eaten? I look at a couple…
