Logo-color Logo-white

WTI oil futures keep facing constraints on the upside Trend signals endorse the positive trajectory WTI oil futures only marginally surpassed January’s high of 79.28, before closing back within the 78.00 territory and around the 38.2% Fibonacci retracement of the September-December downleg, which has been restricting upside movements for more than a week. The sideways […]

The post WTI Oil Futures Restricted in a Bullish Trend appeared first on Action Forex.

previous

USD/JPY Tanks About a Full Yen

next

Early Flight to the Moon

Read More

17/05/2024

Canadian Inflation Prints to Show Another Step Down in April

Next week’s Canadian April inflation report will be the last major data release before the Bank of Canada’s next interest rate decision on June 5th. Absent an upside surprise, we think the soft conditions in the economy and labour markets should warrant a 25-bps interest rate cut from the BoC in June. In April, we […]
19/10/2024

Weekly Economic & Financial Commentary: U.S. Dollar Gains on Re-Think of Fed Policy Easing

Summary United States: Fall Data and It’s the Same Retail sales came in stronger than expected in September, industrial production was weaker than expected and residential construction softened. The fall data mix is a continuation of the underlying trends in economic growth—consumers are strong, while interest-rate-sensitive sectors are weak. Next week: LEI (Mon.), New Home […]
04/01/2024

Gold Wave Analysis

Gold reversed from resistance level 2075.00 Likely to fall to support level 2016.00 Gold recently reversed down from the strong multi-month resistance level 2075.00 (which also stopped the earlier uptrend in March of 2023, as can be seen below). The downward reversal from the resistance level 2075.00 stopped the earlier minor impulse wave iii. Given […]