commodities

The precious metal pared losses as prices reversed on Thursday. Following this, gold broke past the 1900 level of resistance to briefly test the 1911.50 region. Considering that this level held up as support earlier, the resistance…
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Oil prices turned bearish losing over 5% intraday. The declines came on the back of fundamentals. OPEC's crude oil production in September increased by over 160,000 bpd, leading to a decline in oil prices. As a result, crude oil has…
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Crude Stores Fall Again Despite trading lower over the week, crude oil found some demand midweek. This came in response to the latest report from the Energy Information Administration. The EIA reported that in the week ending September…
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The precious metal is struggling to maintain the gains made from Tuesday. Price action is rather mixed and likely to close with an inside bar. In the near term, this could lead to a possible breakout in the short term. However, the…
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WTI Crude oil prices extended the declines on Tuesday to fall back to the old support level near 38.835. Price action since then has turned bullish. The gains come as it coincides with the weekly inventory report. The US crude oil…
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The current XAUUSD structure hints at a final impulse in wave ⑤. This is part of a larger cycle degree impulse. It consists of five sub-waves (1)-(2)-(3)-(4)-(5). At the time of writing, the market has completed correction wave (4) as a…
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The precious metal is attempting to pare losses from last week as price action is trading stronger for the second consecutive day. The recovery although nascent comes after prices fell toward the 1850 handle earlier. In the process, we…
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WTI Crude oil prices are trading lower on Tuesday and were down over 3% intraday. Price action remains steady within the 41.00 and the 38.83 levels of resistance and support respectively. A breakout from this range to the downside…
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Crude oil prices gave back some of the gains made from the previous week. Price action turned negative for the week closing near the 40.00 handle. Still, the previous week's bullish engulfing pattern gives hope for the upside to…
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The precious metal posted solid declines last week as price fell to a two-month low near 1850. Gold prices managed to pullback into Friday's close. The breakdown comes after the support area near the 1911 - 1900 region gave way. In…
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