Logo-color Logo-white

The recent sell-off of 18% in WTI crude oil since August has stalled. An increase in hostilities in the Middle East and impending fiscal stimulus measures from China are likely to trigger a medium-term trend change in oil prices. Technical factors suggest a further potential rebound in WTI crude oil towards the next medium-term resistance […]

The post WTI Oil: Rising Geopolitical Risk Premiums and China Stimulus May Have Created a Medium-Term Floor at US$67.55-65.70 appeared first on Action Forex.

previous

GBP/USD Outlook: Cable Falls to Three Week Low on Dovish Steer in Rate Outlook

next

Bitcoin in a Slippery Mode Within SMAs

Read More

09/07/2024

S&P 500 (SPX) Bullish Elliott Wave Sequence Remains in Play

Short Term Elliott Wave View in S&P 500 (SPX) suggests that cycle from 4.20.2024 low is in progress as a 5 waves impulse. Up from 4.20.2024 low, wave 1 ended at 5325.49 and pullback in wave 2 ended in a zigzag structure. Down from wave 1, wave ((a)) ended at 5256.93 and wave ((b)) ended […]
15/03/2024

Risks Significantly Tilting to First Fed Rate Cut in September at Earliest

Markets US Treasuries sold off for a third straight session yesterday with eco data strengthening the case for a hawkish tone at next week’s FOMC meeting. Risks are significantly tilting to a first rate cut in September at the earliest. February US producer price inflation accelerated much more than forecast (0.6% M/M for headline & […]
08/12/2023

GBPJPY Seeks Buyers After Worst Day of the Year

GBPJPY reverses October-November rally Oversold conditions detected after sharp drop Resistance at 181.45-182.00 GBPJPY crashed by 3.5% to 178.51 on Thursday before closing the day at 181.45, marking its worst daily session of the year. The pair faced heavy selling in the wake of renewed signals the Bank of Japan could exit its existing super […]