WTI prices turn positive above the $ 40.00 level. The EIA reported a drop of nearly 1 million barrels a week on Wednesday. Traders’ focus now seems to have shifted to fuel demand. West Texas Intermediate barrel prices they are trading in a tight range, although they manage to stay above the key $ 40.00 […]
Tag: Raw Materials
XAU / USD updates session lows following bullish US data around $ 1,900
Gold witnessed some new selling on Thursday amid a strong recovery in USD demand. A larger-than-expected drop in initial jobless claims in the United States further sustained the bet. Risk appetite could help limit the slide ahead of the Trump-Biden presidential debate. The gold added to its intraday losses and updated daily lows around the […]
WTI recovery stretches over $ 40, but remains limited
WTI fluctuates in a potential rectangle pattern on the day chart. The daytime RSI is flat while in the bearish region. WTI (NYMEX futures) is fading its recovery attempt in Thursday’s European session as risk-off sentiment dominates amid rising coronavirus cases in Europe and diminishing prospects for a trade deal fiscal stimulus in the US […]
Gold recovers from daily lows, still negative around the $ 1,920 region
A modest pickup in USD demand triggers some selling around gold on Thursday. Risk aversion supports the safe-haven XAU / USD and helps limit deeper losses. The prices of the oro They are moving slightly lower during the European session on Thursday, although they have managed to recoup a portion of their daily losses to […]
XAU / USD breaks out of symmetrical triangular resistance
Gold rose for the third straight session on Wednesday. A move above a symmetrical triangle sets the stage for higher gains. Buying on the dips now should help limit the drop near $ 1,900. The gold It built on the previous day’s modest bounce from a two-week rising trend line support and rose to more than […]
WTI further weakens, returns below $ 41.00 ahead of EIA report
WTI prices lose traction to the upside and fall below $ 41.00. The increase in coronavirus cases undermines the outlook for oil demand. The EIA’s weekly report on US supplies will be next on the economic agenda. US Reference Barrel Prices for Light Sweet Crude they remain defensive and revisit the area below $ 41.00 […]
WTI rebound loses steam and retreats towards $ 41 ahead of EIA data
Tone of weakness in stocks limits WTI rebound. API data showed an increase in US crude inventories, today EIA data. The WTI (future in NYMEX) stopped the corrective retracement that began at the highs of the month at $ 41.88, in the zone of $ 41.00 in the last hours. It reached the lowest level […]
XAU / USD remains stable near six-day highs just below the $ 1,920 level
Gold gains traction for the third day in a row on Wednesday. The selling tone around the USD offers support for gold prices. Concerns about a sharp increase in COVID-19 cases offer additional support. The prices of the oro move with a positive bias during the first half of the European session on Wednesday, hitting […]
XAU / USD buyers take a breather around the weekly resistance line
Gold remains close to the daily highs around the $ 1,920 level. Sellers will look for entries below the three-week support line. The monthly high offers additional resistance for the bulls before key horizontal resistance. Gold prices are holding near their daily highs, around the $ 1,920 region, at the start of the European session […]
Aiming for resistance at the $ 41.72 level
WTI is recovering from daily lows and is targeting resistance from the September 18 high at $ 41.72. Technical indicators on the daily chart favor a breakout above the key hurdle. Prices for the West Texas Intermediate (WTI), North America’s benchmark oil index, is currently trading at $ 41.48, up 0.43% on the day. Black […]
