Oil prices traded sideways once again overnight. A much lower US dollar was offset by OPEC’s monthly report which lowered oil demand and a surprise spike in US API Crude Inventories above 5 million barrels. The OPEC report’s impact was negated as it stated that some members would have output challenges over the next few months. Brent crude was unchanged at $83.30...
Dowjones is now on a bull move for today. Trading on low high & higher chart pattern. Can see a buying move from here.
Gold price tests the higher levels once again amid steady USD, Treasury yields. Gold traders remain cautious of the critical US inflation data, Fed minutes. Gold on the back foot as NFP fails to alter taper prospects. Immediate upside is capped at $1762, which is the convergence of the Bollinger Band one-hour Upper and the previous day’s high. The next...
USD/JPY has made a fresh high today as momentum indicators appear bullish for now. The 21-day simple moving average (SMA) is well below the current level and the Bollinger Band based of it has widened as volatility increased with this break higher. The price has moved outside of the upper band and a move back inside might indicate a pause in bullish momentum. As...