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Gold inclined, touching the previously breached support at 1230.00 after finding support near 50% Fibonacci at 1219.00. The general bearishness persists due to trading below moving averages and ADX...
Oil inclined, touching 50.00 levels, which is a psychological resistance that will be followed by 50.90. The bullishness remains favored based on moving averages and ADX, while overbought signs...
On Wednesday, the People’s Bank of China weakened the yuan/renminbi to its lowest level in five years. The actual cut was small: only about 0.34%. The Chinese yuan closed 0.2% weaker on Tuesday...
Crude oil futures edged closer to $50 a barrel on Wednesday, with the US crude reaching its highest level in more than seven months after industry statistics implied a bigger than expected decline in...
A lot of analysts think that $50 a barrel oil is as good as it gets for 2016. We think there is a substantial short squeeze coming in the oil market as we take out $54 a barrel over the coming months....
It’s time for a short term bounce in gold, but don’t be fooled, the intermediate degree correction isn’t done yet. Gold has to generate at least one failed and left translated daily...
From a technical, fundamental and seasonal perspective, the current gold-price correction is exactly what the doctor ordered. Note the position of the Stochastics oscillator at the bottom of the...
OPEC’s June meeting, scheduled to take place in Vienna, Austria on Thursday June 2, is still more than a week away, but the strategic political posturing by major oil producers is already...
Hip To Be Bullish It is suddenly hip to be bullish crude oil again. Bearish calls that oil could crash to $10.00 a barrel seem be off of the table. Talk that oil would never exceed $40.00 a barrel...
Bullish API Data Moves Crude Oil The API data showed bullish data on Crude oil, Distillates and a bearish number on Gasoline and the market took notice. Also bullish, Royal Dutch Shell (LON:RDSa)...
It’s been another everything-is-grinding-higher (except gold, of course) night session, although crude has lost some of its earlier verve after yesterday evening’s API report. The next...
Gold continues to decline, approaching 1219.00 - Fib. of 50% - as seen on the provided daily chart. Technical indicators shows increase in bears’ power, while prices stabilize below moving...
Crude Oil inclined, stabilizing above 49.00. Stability above 48.90 is positive already and would extend the bullishness. Prices ignore the overbought signal on RSI, which is so close to 70.00 levels,...
Main scenario:The pair is trading along a downtrend with target on 1215, that may be expected to continue, while pair is trading below resistance level 1230. Alternative scenario:An uptrend will...
Domestic HRC steel prices have surged 67% since they hit a floor just six months ago. The duties imposed on steel products caused imports to taper down in a big way this year, and U.S. steel mills now...