July 2020

Huge Q2 Losses General Motors shares are trading down 1.67% pre-market on Thursday following a dire Q2 earnings call yesterday. The US automobile giant reported losses of -$0.50 per share over the June quarter. While this was better…
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Let's put the size of the oil market in perspective. The world's average daily production of oil is 80.6M barrels. Taking the most recent OPEC basket price of $43.12/barrel, that means the world spends close to $3.4B a day on petroleum,…
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Qualcomm's share prices spiked outside the upper regression of the $11.50-$53 channel once again. The recent pullback from the $94.17 high registered on July 13 was only short-lived as prices retraced only down to $84.54. This is near…
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Crude Inventories Plummet The latest report from the Energy Information Administration this week offered some hope for crude bulls. The EIA reported the largest weekly crude draw of the year in the week ending July 24th. US crude…
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The precious metal is looking a tad weaker following the price action from Wednesday. An intraday high near 1980.71 saw prices retreating. This has also formed a double top pattern near the top end of the rally. But the lower support…
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Oil prices remained within the range of 41.00 and 42.00 on Wednesday. Price briefly fell back to the 41.00 level before a slight bounce to the upside. The consolidation, which is now over a week, could signal a possible breakout in the…
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The British pound sterling is maintaining its steady winning streak, as price rose to a fresh four-month high on Wednesday. After a brief move above the 1.3000 level, GBPUSD is retreating. If the declines continue, the rising trend…
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The euro resumed its bullish momentum on Wednesday as price rose another 0.65% on the day. The common currency is trading above the 1.1750 handle following the Fed meeting. However, in the early Asian session on Thursday, the euro is…
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