Oil prices gained traction for the second consecutive session on Monday. Prospects for increased energy demand continued to support the rebound. The price of WTI crude oil extended Friday’s rise and gained momentum. It is climbing for the second session in a row on Monday. The momentum pushed spot prices to two-day highs around the […]
Tag: Raw Materials
XAU / USD struggles to gain traction ahead of key central bank meetings
The price of gold gains some positive traction on Monday and moves away from the lows of more than a week. Stagflation risk concerns turn out to be a key factor benefiting the yellow metal. The rally lacks bullish conviction ahead of central bank events this week. The price of oro (XAU / USD) It […]
XAU / USD falls to lows of more than a week, below $ 1,780
A strong recovery in USD demand triggered an aggressive sell of gold on Friday. The USD got some support from high US bond yields and bullish expectations from the Fed. A softer risk tone could provide some support for the safe-haven metal and limit further losses. Gold (XAU) saw aggressive selling during the early American […]
WTI falls below $ 83.00 due to the rise in US stocks.
WTI futures depreciate beyond 1% to reach session lows below $ 80.00. Higher-than-expected US stocks have increased the negative pressure on oil prices. WTI: test support at $ 82.50. WTI prices for the first month they have extended their reversal from multi-year highs at $ 85.35 on Monday. Crude prices have depreciated more than 1% […]
XAU / USD Closes Closer to $ 1,800 Amid Falling Yields / USD Weaker
Gold attracted some buying for the second day in a row on Wednesday. As US bond yields receded, the weaker USD acted as a tailwind for commodities. Aggressive central bank expectations could continue to limit the metal’s gains. The oro (XAU / USD) It continued to show some resistance below the confluence of the 100/200 […]
XAG / USD struggles below $ 24.00, downside potential seems limited
Silver saw some selling for the second day in a row on Wednesday. Mixed oscillators on 1-hour and daily charts warrant caution for bears. Any subsequent decline is likely to remain capped near the $ 23.20-15 area. Silver (XAG / USD) has struggled to capitalize on the late rally the day before from multi-day lows […]
Looking to break a bullish wedge on the 4-hour chart
US oil resumes correction from seven-year highs of $ 84.97. WTI is about to confirm the breaking of a rising wedge on the 4-hour chart. Support for the SMA 50 at $ 82.73 is key as the RSI turns bearish. WTI (NYMEX futures) is moving lower so far this Wednesday, as bears look to resume […]
XAU / USD dips below $ 1,800, decline appears limited
Risk appetite sparked further selling around safe-haven gold on Tuesday. Aggressive expectations from the Fed put even more pressure on the unperforming XAU / USD. New nerves from COVID-19, concerns about global economic growth helped limit losses. Gold (XAU) added to its intraday losses and weakened further below $ 1,800 during the early days of […]
Oil prices won’t drop until 2023
In its latest Commodity Market Outlook report released over the weekend, the The World Bank warned that the recent oil price surge is unlikely to reverse until 2023. Featured Comments “Average crude prices are expected to end the year at $ 70 a barrel, 70% higher than in 2020.” “The rise of energy prices pose […]
New 7-year highs above 84.00, higher rise needs validation
WTI rises to new highs since October 2014. At the March rising trend line, an overbought RSI challenges the bulls. The convergence of the monthly support line, and the DMA of 10 restricts the immediate fall. WTI bulls remain dominant, renewing seven-year highs during early Monday morning. That said, black gold is around $ 84.15, […]
