This week, Saudi energy minister Prince Abdulaziz bin Salman visited Moscow to discuss plans for oil production in the context of the Israeli-Palestinian conflict. The Russian president announced that Saudi Arabia and Russia's production cuts are "likely" to continue.
Meanwhile, Magid Shenouda, deputy chief executive of commodities trading giant Mercuria, told...
Yesterday, another indicator of inflation in the United States was published — the CPI (Consumer Price Index). Like the PPI (Producer Price Index), the values of which were published on Wednesday, the CPI index indicated that inflation in the US remains stable (actual = 3.7%, forecast = 3.6%, a month earlier = 3.7%, two months earlier = 3.2%), however, this time,...
Market volatility, characterised by rapid price fluctuations, presents both opportunities and challenges for traders. Understanding its causes, measuring it effectively, and employing strategies to capitalise on it can lead to better trading results. This article explores the essentials of market volatility, from its definition and measurement to strategies like...
Crude oil price saw swing moves and is now trading below the $83.70 resistance.
Important Takeaways for Oil Prices Analysis Today
· Crude oil prices failed to clear the $86.00 region and corrected gains.
· There is a connecting bearish trend line forming with resistance near $83.00 on the hourly chart of XTI/USD at FXOpen.
Oil Price Technical Analysis
On...
Gold price surged above the $1,848 resistance after the Israel-Hamas war escalated.
Important Takeaways for Gold Prices Analysis Today
· Gold price started a steady increase from the $1,810 zone against the US Dollar.
· A key rising channel is forming with support near $1,868 on the hourly chart of gold at FXOpen.
Gold Price Technical Analysis
On the...
In early October, the GBP/USD decline exceeded 10% from its summer high, which was very worrying. However, the weakening of the US dollar and changes in sentiment in the US government bond market allowed the pound to strengthen.
Important news about UK GDP was published this morning:
→ The Office for National Statistics estimates that real gross domestic product...
The rise in the price of the (considered a safe haven) asset was driven by:
→ escalation of geopolitical conflicts;
→ increasing US government debt and rising bond prices make gold a more attractive option for a defensive portfolio.
Also, according to Business Insider, global central banks are buying gold in an effort to diversify reserves away from the dollar.
...
As we wrote in our October 8 market analysis, the S&P 500 chart made bullish arguments, including:
→ the S&P 500 price has reached the lower boundary of the ascending channel (shown in blue);
→ RSI fell to its minimum in 12 months.
Technically, these factors were justified, because today, the S&P 500 has strengthened, the price is near the psychological level...
This morning, as the NZD/USD chart shows, one USD was worth 0.605 New Zealand dollar, for the first time since August 10.
The strengthening of NZD was facilitated by:
→ rumours that China is planning a major stimulus package to boost the economy amid the real estate crisis. And the Australian and New Zealand dollars, as one can see, are showing growth against...
USD/CHF declined and now trading near the 1.0450 support zone.
Important Takeaways for USD/CHF Analysis Today
· USD/CHF declined below the 0.9140 and 0.9080 support levels.
· There is a connecting bearish trend line forming with resistance near 0.9080 on the hourly chart at FXOpen.
USD/CHF Technical Analysis
On the hourly chart of USD/CHF at FXOpen, the...
EUR/USD started a recovery wave above the 1.0550 resistance.
Important Takeaways for EUR/USD Analysis Today
· The Euro gained pace after it broke the 1.0550 resistance against the US Dollar.
· There is a major bullish trend line forming with support near 1.0570 on the hourly chart of EUR/USD at FXOpen.
EUR/USD Technical Analysis
On the hourly chart of...
Oscillators are popular tools in trading, and the Chande Momentum Oscillator is no exception. In this article, we will cover the unique insights offered by this indicator, how it’s calculated, and how it stacks up with other well-renowned momentum tools.
What Is the Chande Momentum Oscillator Indicator?
The Chande Momentum Oscillator (CMO) is a technical...
The first day of October coincided with the first attempt of the bulls to overcome the resistance level of USD 28,000 per coin, but on the 2nd of October, the sellers showed their presence. Since that time, the price has repeatedly exceeded the level of 28k, but each time not for long, after which a decline followed.
Yesterday, there was another such decline. As...
As the chart shows, yesterday, the price of gas rose above USD 3.60 for the first time since January of this year.
It can be assumed that events in Israel contributed to the price increase, since the Middle East is an important supplier of gas.
However, note that the bullish momentum started much earlier — gas prices have risen approximately 20% since the...
On Friday, trading in WTI oil futures on the NYMEX closed at USD 82.81 per barrel. And on Monday morning, they opened at a price of USD 85.25 and began to quickly rise in price, reaching 87.24. Natural gas prices have also risen sharply.
The reason is Saturday's attack on Israel. And, of course, associations arise with the oil crisis of 1973, when Arab...
The Awesome Oscillator (AO), a brainchild of Bill Williams, is a crucial tool in technical analysis, giving traders a clear view of market momentum and potential trend shifts. Designed as a histogram oscillating around a zero line, the AO provides nuanced insights into asset momentum. In this article, we explore the intricacies of this indicator, including its...
Yesterday, the NFLX share price dropped below USD 370, the lowest since late May of this year, and about -22% from the July peak.
Note that on July 6, we wrote that the NFLX stock price could meet resistance at USD 450 per share, and the signals from the chart gave bearish warnings. Just since July, the stock price began to perform worse than the broad S&P 500...
On Tuesday, the US dollar rose above the psychological level of 150 for the first time since October 2022 before falling sharply to a low of 147.30 as the yen rose.
The media are discussing whether this movement confirms the fact of intervention on the part of the Japanese authorities.
On the one hand, there are opinions that the yen's movement on Tuesday was...
