oil

GER 30 resumes uptrend With the fear of reflation now taking a backseat, improved risk sentiment is pushing equity markets into new highs. The DAX has built a floor around 15160 following the latest rectangle consolidation. Bullish…

The USOIL chart shows the final part of a large bullish impulse consisting of primary sub-waves ①-②-③-④-⑤. Wave ④ is still under development at the time of writing. This is the penultimate wave in the cycle impulse c. The correction ④…

USDJPY continues to pull back The US dollar struggles to find buyers amid dovish FOMC minutes. The pair has met stiff selling pressure near the psychological level of 111.00 from last March. An RSI divergence was an indication that…

USDJPY extends recovery with robust jobs data Sentiment for the dollar remains upbeat as the pair bounces back to its pre-pandemic level from a year ago. The US labor market showed solid growth again in March with 916k jobs added.…

The second quarter is shaping up to be the best time for commodities in general, even though they have already moved higher in anticipation. The US and UK are expected to fully open their economies by the summer. This will, therefore,…

USOIL sees bearish momentum stalling WTI climbed back in anticipation of extended production cuts by OPEC+ in their upcoming meeting in April. The pullback would be temporary as an RSI divergence showed a loss in the sell-off.…

EURUSD consolidates near the support area The US dollar stayed subdued as Treasury yields retreated on Monday, relieving pressure on its European counterpart. The pair has fallen back from the double top at 1.1990 after it went into…

Oil continues to form a bullish impulse of a cycle degree. Recently, the cycle wave III which consists of primary sub-waves ①-②-③-④-⑤, fully completed. We are now seeing a slight corrective decline in the price in wave IV in the form…

Oil Hits Three Year Highs Volatility in the oil market continued this week. Crude broke out to its highest level since October 2018, piercing above the 65.40 level briefly, before reversing lower. Oil prices have been rallying steadily…

Crude Stocks Soar Following two days of declines, oil prices shot higher midweek. The latest report from the Energy Information Administration showed a mammoth build in US crude stockpiles. The EIA reported that in the week ending…