I know we've had quite an amazing run these past few month, with over 78% accuracy in our trade ideas and sentiments, and thousands of pips in profits monthly...
OIL: turbulence ahead
Information is not investment advice
In May-June, WTI oil price was rising almost non-stop. In July, we have an obvious consolidation. The level of $41 per barrel so far serves as an iron wall for bullish intentions. What is the likely scenario ahead?
OPEC+ is having a meeting this week. They are going to discuss the possibility of loosening the tight regime of output cuts in view of expectedly improving outlook for global oil demand. Locally, investors are already factoring in an increase in the output – last Friday, WTI dropped to $38.5
Surely, for oil prices, the period of “simply growing” is over – at least, for now. This week, we will definitely see volatility. First, the OPEC+ will make its announcements; then, the market will take its time to react, retrace, and stabilize. So we are speaking about a couple of weeks of the full cycle of market reaction getting ready to pave the way for a new period of probable growth.
Therefore, expect some turbulence ahead. Dropdowns as deep as down to $30-35 would be nothing extraordinary. But the end of the month, though, it is likely to be over, and by that time $40 will eventually convert into support level.
Futures for Canada's main stock index rose on Monday, following positive global markets and gains in crude oil prices. First Citizens BancShares Inc's announcement of purchasing the loans and deposits of failed Silicon Valley Bank also boosted investor confidence in the global financial system...
Investor confidence in the global financial system has been shaken by the collapse of Silicon Valley Bank and Credit Suisse. As a result, many are turning to bearer assets, such as gold and bitcoin, to store value outside of the system without...
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus