WTI Crude Oil The WTI Crude Oil market went back and forth during the trading session on Thursday, as we continue to see a lot of volatility when it comes to the crude oil markets. The $72 level above is short-term resistance, but I think the hammer that sits at the $70 level that extends…
USD index looks overall bearish since the start of 2017, but current recovery from this year low can differ. In general, we are observing an unfolding impulsive five-wave bearish price movement of a higher degree that still has to develop two more waves. An impulse is a five-wave movement that indicates the direction of the…
The Industrials Sector includes twenty-three industries all related to designing, fabricating and servicing stuff we want and use. The industrials industries range from aerospace and defense to waste management with all the transportation, business services, and equipment required in between. Today I’m reviewing a Large Cap French-based Waste Management firm offering water supply, treatment and…
This week brought forward more evidence that we are living in a fabricated world. The popular storyline presents a world of pure awesomeness. The common experience, however, grossly falls short. On Tuesday, for example, the Labor Department reported there were a record 6.6 million job openings in March. Based on the Labor Department’s data, there were enough…
Stock markets in India are presently trading marginally higher. Sectoral indices are trading on a mixed note with stocks in the energy sector and metal sector witnessing maximum buying interest. Telecom stocks are trading on a negative note. The BSE Sensex is trading up 102 points (up 0.3%) and the NSE Nifty is trading up 37 points (up 0.3%). The BSE Mid Cap index is trading up by…
USD/JPY 4 hour The USD/JPY uptrend failed to break above the resistance and previous top at 110, which could indicate a potential double bottom reversal chart pattern. The bearish bounce could confirm a larger ABC (blue) correction if price manages to break below the support trend line (blue). In that case price could move towards…
I have previously covered Venezuela’s worsening economic situation, particularly in relation to its oil industry. More than a decade ago, after the late Hugo Chavez expropriated the assets of oil companies like ExxonMobil and ConocoPhillips (my employer at that time), I warned: It won’t take too long before everything is nationalized, and Chavez has no more coffers to…
USD/CAD broke below 1.2803 support, suggesting that the upside movement from 1.2526 had completed at 1.2997 already. Further decline could be expected after a corrective consolidation and next target would be at 1.2600 area. Resistance levels are at 1.2870 and 1.2997, only break above these levels could trigger another rise towards 1.3100.
Gold prices rose $8.86 an ounce on Thursday as a retreat in the dollar took some pressure off the yellow metal. The greenback eased after soft inflation data helped alleviate fears of faster interest rate hikes by the Federal Reserve. XAU/USD reached a strategic technical resistance in the $1322-$1320 area after the market found enough…
Dropbox, Inc. (DBX – Free Report) released its first quarterly financial results, posting earnings of $0.08 per share and revenues of $316.3 million. Currently, Dropbox is a Zacks Rank 3 (Hold), but that could change based on today’s results. Shares of the company have gained about 2.3% since its IPO, including a 1.9% gain during regular trading hours today….
