commodities

The precious metal has been posting strong gains on the back of the US dollar. Gold prices are up nearly 2% intraday on Tuesday. The rebound also coincides with the impending correction in gold, as mentioned a day before. For the moment,…
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Oil prices are trading weaker on Tuesday. The declines come despite the US dollar taking a strong hit. The move to the downside comes after oil prices failed to make any big moves to the upside. As a result, WTI crude oil was…
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The precious metal is extending losses as the 200-day moving average gives way. Price action is, however, showing signs of a rebound near the current five-month low. The Stochastics oscillator is also showing signs of a bullish…
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Oil prices are down about one percent intraday. The declines come as OPEC leaders meet in Vienna. Rumors over the weekend suggested that OPEC+, which includes Russia, will keep the present production cuts in place. Technically, oil…
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The precious metal continued to move lower following a brief pause for two sessions. However, as prices make a new low, there is a strong bullish divergence building up on the Stochastics oscillator. This could mean that the precious…
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Oil prices pared losses to close on a bullish note on Friday. This put price action back near Wednesday's highs close to the $45.50 levels. The overall short term momentum is to the upside in the oil markets. However, watch how prices…
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Gold Gold prices have come under heavy selling pressure this week. The safe-haven asset broke below the 1862.07 level which has underpinned price action since July. The sell-off was fuelled by the continued risk-on move which is sweeping…
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The precious metal is consolidating into a sideways range after falling below the 1817.80 level of support. On the daily chart, we have the long term support coming from the 200-day moving average. With price action closing flat,…
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UKOIL shows a bullish trend which takes the form of a standard Ⓐ-Ⓑ-Ⓒ zigzag. Wave Ⓐ is a bullish impulse, whereas wave Ⓑ is a correction in the form of a bearish (A)-(B)-(C) zigzag. Wave (B) is an intermediate contracting triangle.…
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