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Showing posts from November, 2022

Oil Prices Rebound on Growing Concerns About Supply and Demand in the United States.

On Wednesday, oil prices rose marginally after falling 5% the day before on worries that demand would be hurt by increasing China COVID-19 limitations and central bank interest rate hikes. Oil became cheaper for buyers using currencies other than the U.S. dollar because of the dollar's minor depreciation. At 03:06 GMT, U.S. West Texas Intermediate (WTI) crude CLc1 futures rose 90 cents, or 1%, to $92.54 a barrel after falling $5.37 the previous day on recession worries. Futures contracts for October Brent oil LCOc1 rose 70 cents, or 0.7%, to $100.01 a barrel on Wednesday, recouping some of the $5.78 loss seen on Tuesday. The November LCOc2 contract, which sees more trading, increased by 1% to $98.80 per barrel. Hedge funds and speculators have been spooked by the price fluctuations since the Ukraine crisis began six months ago, resulting in reduced trading volume and a more volatile market, as was evident on Tuesday. Vivek Dhar, a commodities analyst at Commonwealth Bank, said, ...

Daily EUR/USD Technical Analysis and Speculative Trading Opportunities

Before the price drop that started at 1.1200, the price levels in the vicinity of 1.1700 were able to keep stability for a brief amount of time. This was before the price drop that started at 1.1200. However, this state of stability did not last for an especially extended period of time. In a very short amount of time after that, the price zone around 1.1500 exerted a substantial amount of SELLING pressure when a decent SELL Entry was presented upon the previous upward movement that was heading in its direction. This occurred when a decent SELL Entry was presented upon the previous upward movement that was heading in its direction. This transpired at the time when a respectable SELL Entry was offered upon the earlier rising movement that was heading on its course. This took place at the precise moment in time when a respectable SELL Entry was presented upon the earlier rising action that was headed on its route. This ascent was proceeding in the direction of the price zone, which was t...