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...
WTI: the moment of truth
Information is not investment advice
The American crude inventories are shrinking faster than expected. That reflects the global situation around oil: the glut is shrinking, the demand is coming back. That’s good news overall, and the oil price is appreciating that. However, there is certain fundamental equilibrium at the moment: from purely the oil industry standpoint, things are improving with the demand catching up with the supply; from the geopolitical perspective, the US-China relations are a bit tensed and may be preventing the price from rising.
Now, from a technical perspective, there is an obvious consolidation at the resistance level of $26.50. Very likely, as soon as the fundamental equilibrium is broken, that resistance will also be left: either upwards, or downward, depending on where the news will tilt the table. The main question is, how the absence of news and fundamental silence should be interpreted? In the mid-term, if nothing comes from the US-china front, and neither from the oil sector, it should push the price because the glut is diminishing “naturally” anyway, while any impediment for the market correction would need to come from the political side in a form of a conscious state effort. Hence, the absence of the latter will automatically give way for the price to rise.
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