This week, new records were recorded on Wall Street. This time it was the Dow Jones Industrial Average which broke the 23,000 points mark. Oil continued the upward trend that began in recent weeks, mainly due to two reasons: The first is the appeal made last week to the oil shale producers to adjust its… Continue reading On the Global Front
The NZD/USD pair is back in the bullish zone above 0.7120 and Crude Oil price is set to break the $51.90-52.00 resistance. NZD/USD Forecast – Back in Bullish Zone Key Points The New Zealand Dollar after forming a bottom near 0.7050 started an upside move against the US Dollar. There was a break above a… Continue reading Market Forecast 13/10/2017
The Euro is correcting higher vs the Japanese Yen, but upsides remain capped near 133.00. Crude oil price is starting to show signs of a short-term top. EUR/JPY Forecast – Euro’s Upsides Remain Capped Key Points The Euro started a downside move from the 134.35 swing high against the Japanese Yen. The EURJPY pair is… Continue reading Market Forecast 27/09/2017
Silver Price Eyes Further Gains Key Points Silver Price made a nice upside move and traded above $18.00 level against the US Dollar. There is a contracting and ascending triangle forming with current resistance at $18.20 on the hourly chart. Today in China, the Trade Balance report for August 2017 was released by the General… Continue reading Market Forecast 08/09/2017
Crude oil price after a solid rise above the $50.00 level against the US Dollar moved down. A high was formed near $50.44 and then the price traded as low as $48.0. Later, it started trading in a range and forming a contracting triangle pattern with resistance at $49.40 on the hourly chart. On the… Continue reading Crude Oil Price Forming Contracting Range
There was a decent upside move in Crude oil price after a decline towards $41.85 level against the US Dollar. The price has formed a support and started trading higher above $42. There was a close above the 23.6% Fib retracement level of the last decline from the $45.25 high to $41.84 low. The price… Continue reading Crude Oil Price Slowly Recovering
Crude oil price after rising above the $52 level against the US Dollar failed to hold gains and started a downside move. The price declined towards $48.00, and formed a support base near $47.90. However, it is struggling to hold the stated level and remains at a risk of a break towards $47.50, which is… Continue reading Crude Oil About To Decline Further?