commodities

Oil prices are showing signs of life with price action up over 2% intraday on Wednesday. This comes after the commodity fell sharply on Tuesday to a three-month low. WTI crude oil reversed direction after hitting 36.50. With prices…
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The precious metal is also feeling the brunt of a stronger US dollar. While price action accelerated to the downside on Tuesday, we see a rebound just close to the 1900 region where support has held up so far. Still, the lower highs…
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Oil prices resumed the bearish outlook with declines of more than 7% on Tuesday. This comes after the US markets re-opened after being closed on Monday due to the Labor Day bank holiday. Oil failed to find any support near the 39.00…
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The precious metal is trading flat for the second consecutive day. This comes as price approaches the 1911.50 support area. If gold prices lose the 1911.50 handle next, then we expect steeper declines. Below this level, the next main…
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Oil prices continued to push lower with price action down for four sessions consecutively. The decline accelerated following Saudi Arabia cutting oil prices. This has pushed the commodity down to the 38.83 level of support. If price…
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The precious metal has maintained a firm grip near the rising trend line, with prices consolidating near the 1930 level. To the upside, the resistance level near 1967 remains within reach. But only a strong close above this level will…
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The bearish outlook in WTI crude oil continues as price fell to a five-week low last week. Crashing below the 40.00 level, oil prices closed at 39.60 on Friday. The next key level of interest is at 38.83. A retest of this support…
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The precious metal remains weak as price fell for the second day. However, the pace of declines was limited as XAUUSD is currently helped by the long term rising trend line. With the Stochastics oscillator in the oversold level and the…
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The declines in oil prices continue as prices touched a one-month low at 40.20 on Thursday. The declines come following a rebound in the US dollar. With prices trading near the 40.00 level, we could expect the sideways price action to…
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