commodities

The precious metal is building upon a bullish momentum from last Friday. This has led gold to test the previous nine-year high of 1817.79. However, prices remain muted following the initial retest. A strong breakout above this level is…
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Oil prices are trading lower for the third consecutive session. The declines come following last Wednesday's brief rise to the 41.00 handle. Following this, price action has been trading weaker. For the moment, there is no fundamental…
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The precious metal recovered from the losses from Thursday as price action turned bullish. Gold prices managed to steadily climb into Friday's close, settling at 1809.96. This, however, marks a lower high. Gold prices have found it…
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Crude oil prices continue to maintain a rather choppy range. Prices briefly tested the 41.00 level but soon settled lower. We expect this to continue in the near term, with the potential for prices to test the short term rising trend…
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The UKOIL structure shows a bearish impulse. It consists of primary waves ①-②-③-④-⑤. It is likely that the correction wave ④ has completed on a triple zigzag (W)-(X)-(Y)-(X)-(Z) pattern. Its final wave (Z) ended with an ending diagonal…
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Gold The yellow metal failed to continue its recent upside streak this week and while still broadly supported, upside momentum has certainly waned. One potential reason for this loss in momentum is the shift seen this week in the COVID-19…
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The precious metal is trading weaker on Thursday following the failure to post any fresh highs. Price action rallied towards the highs of 1812 but failed to make any major gains beyond this level. As a result, gold prices flipped and…
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Oil prices are muted today following the breakout above the 40.50 handle. Price action is down 0.6% on the day, intraday. We could expect the 40.50 level to be tested once again. There is also a good chance that oil prices might pullback…
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Inventories Fell Last Week Oil prices have seen renewed buying this week, driven in part by a positive release from the Energy Information Administration. In its latest report, covering the week ending July 10th, the EIA confirmed a 7.5…
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