commodities

Oil prices took a nosedive on Monday, losing about 2.7% intraday. The declines came on the news about the Norwegian oil workers striking coming to an end. Furthermore, restrictions on Libya's largest oil field was also lifted, adding to…
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The precious metal has been trading muted on Thursday. This follows the modest attempt to pullback following the decline to the 1875 handle. For the moment, this could be the short term range in gold. The Stochastics oscillator is also…
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Oil prices were trading bullish on Thursday, gaining over 2% intraday. The gains pushed oil toward the 41.00 level before pulling back. Failure to breakout above this level cements the view of the strong resistance here. We could…
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The precious metal gave back the intraday gains on Tuesday and price action now looks weaker to the downside. Following the reversal near the 1900 region, the resistance level has been tested. We expect the current declines to extend…
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Crude oil prices are trading a tad weaker following the gains from Tuesday. However, with price now trading above the 38.83 region, we expect the current pullback to form support here. On the other hand, considering that the 41.00…
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The precious metal is trading on a softer note after recently breaking past the 1900 level of support. Price action to the upside is looking a little mixed. Thi could potentially put gold prices at risk of a correction back lower.…
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WTI crude oil prices are trading higher for a second day rising over 3% on an intraday basis. The gains come after price managed to successfully close above the 38.835 price level. Following the strong bullish close above this level…
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The precious metal closed on Friday with some modest declines. But overall price action shows that we could see some consolidation taking place near the 1900 - 1911.50 level. Given that this level previously served as support,…
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Oil prices continue to move lower, marking a second consecutive week of declines. Following the breakdown below the 38.83 level of support, oil prices are now trading close to the 36.5 level of support. A retest of this support is…
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The SPX500 structure hints to a bullish impulse consisting of cycle sub-waves I-II-III-IV-V. On the 1H timeframe, we see the final impulse wave of the primary degree. At the time of writing, primary wave ④ was complete. This is an…
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