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Gold, WTI crude oil Q4 outlook
The surge in bond yields finally began to take its toll on gold prices as the end of gold with, with gold falling against basket of currencies alongside the US dollar. And that paints a grim picture for bulls at the beginning of Q4. Yet it has been a very different story for WTI crude oil which has rallied 30% in Q4. But can we really expect a similar performance in Q4?
WTI analysis: Crude oil in spotlight – Technical Tuesday
Investors’ focus will remain on oil prices after their recent sharp gains amid the ongoing supply cuts by the OPEC and allies, and in light of today’s bullish reversal. Owing to concerns over a crude supply deficit, there is a good chance we could see oil prices climb above $100 and thus stoke inflationary worries further.
Crude oil: WTI correction a healthy development for longevity of the bullish trend
The pullback in crude oil could be deemed a healthy development, correcting an unsustainable, one-sided trade which left the contract overbought and over-loved.
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Crude Oil Short-term Outlook: Oil Rally Reignites
Crude oil prices marched higher this week with WTI poised to mark fresh yearly highs into the June uptrend. The levels that matter on the short-term technical charts.
WTI crude oil, ASX 200 analysis: Asian Open – 26/09/2023
Price action remains choppy on WTI crude oil's daily timeframe, which further backs up the case that last week's bearish reversal candle marked the beginning of a correction. The question now is how deep can it retrace before dip buyers seek to return in force? The ASX 200 has shown tentative signs of stability above 7,000, but given the bearish breakdown seen last week we prefer to seek bearish setups around resistance levels.
EUR/USD, GBP/USD, WTI crude oil analysis: European open – 20/09/2023
Implied volatility levels are unsurprisingly elevated for forex pairs today, given we have a key UK inflation report up shortly and the FOMC meeting and press conference in just over 12 hours. Today we look at the intraday charts for EUR/USD, GBP/USD and WTI crude oil.
WTI crude oil finally set to mean revert? Asian Open - 20/09/2023
Whilst WTI crude oil made light work of breaking above $90, it faltered around $95 and left a potential key reversal day below historical highs. And with the potential for the Fed to be more hawkish than money markets are currently pricing in, it could shake the bullish oil tree and trigger a correction against its strong trend.
Crude oil: risk-laden week and bullish sentiment pose a threat to fresh longs
A decent pullback in crude oil is not a stretch given how lopsided near-term sentiment and positioning appears to be.
Oil, Canadian Dollar Analysis: USD/CAD Hits 1-Month Lows as Oil Rally Extends
Technical analysis shows WTI may be getting stretched while USD/CAD could have further to fall...
US dollar, USD/CAD, WTI crude oil analysis: Commitment of traders report (COT)
The USD is on the cusp of flipping to net-long exposure among G10 currencies according to data compiled by IMM (International Monetary Market). And despite the resurgence of US dollar strength, oil continues to perform well and market positioning is looking increasingly bullish for the weeks or even months ahead.
Crude Oil Price Forecast: WTI Bulls Capture $90- Breakout Levels
A three-week rally in has cleared the yearly opening-range with WTI now approaching trend resistance. Levels that matter on the Crude Oil weekly technical chart.
EUR/USD headed for 105? WTI crude oil hits YTD high: Asian Open
The ECB delivered a relatively dovish hike whilst US data once again outperformed. And that was the perfect catalyst to send EUR/USD to a 4-low (and speculative positioning suggests there may be further downside to come). WTI crude oil rose above $90, and it appears to have more fuel in the tank to perhaps head for the October high.
WTI crude oil headed for $90? Yields perk up: European open – 5/9/2023
The US yield curve has continued to creep higher after the 3-day weekend in the US, heling the US dollar retain its place at the top spot among currency majors. Yet WTI crude oil is managing to outpace the dollar, and looks set for at least another attempt to test the $90 level.
WTI crude oil, AUD/USD analysis: Asian Open – 28/08/2023
Jerome Powell delivered a slightly more hawkish message than expected at Jackson Hole, by suggesting that the Fed may need to raise rates at least one more time. This helped the US dollar rise for a sixth week and send the 2-year yield to a 17-year high. Still, we see the potential for AUD/USD to hold above key support and WTI crude oil rise to $82.
Crude Oil Short-term Outlook: Oil Spill Searches for Support
Crude oil prices plunged more than 8.5% off the highs with WTI now approaching make-or-break support. The levels that matter on the short-term technical charts.
Crude Oil Technical Forecast: WTI Set to Snap Seven-Week Rally
A stunning seven-week rally in crude oil prices may be vulnerable here into resistance the yearly highs. Levels that matter on the WTI weekly technical chart.
WTI crude oil and natural gas fan fears of another round of inflation
Natural gas – a key inflationary input – is teasing markets with a bullish breakout on the eve of a key US inflation report in the US. A day after WTI hit a new YTD high.
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Crude oil outlook: WTI hits new 2023 high
WTI oil prices reached its highest levels since last November, breaking above the April high of $83.50 briefly, before coming off its best levels. Traders will be watching to see how oil prices will close the session today. The OPEC+ ongoing supply cuts are continuing to offset concerns over demand. But will WTI manage to climb to $85 and higher?
WTI crude oil analysis: Asian Open – 8th July 2023
Monday's trade saw WTI hand back almost all of Friday’s gain and produce a 2-bar reversal pattern (dark cloud cover). And with that comes the potential for a deeper pullback, so long as prices remain beneath yesterday’s high. For today, we'll keep a close eye on the January high, which is likely to be a pivotal level today.
Crude Oil Short-term Outlook: WTI Bulls Snap 2023 Losses
Crude oil prices surged more than 25% off the yearly lows with the bulls attempting a 5-day rally within a broader 5-week advance. Levels that matter on the WTI charts.
WTI crude oil analysis: European Open – 24th July 2023
WTI crude oil prices rose for a fourth consecutive week despite a recovery of the US dollar. Whilst it shows the potential to pull back from the $77 highs, short-covering of large speculators and managed funds over the past couple of weeks suggests it could be headed towards $80.
Crude Oil Technical Forecast: WTI Bulls Take Charge
The crude oil breakout is approaching a cluster of key resistance hurdles as the bulls push for a fourth-weekly advance. Levels that matter on the WTI weekly chart.
AUD/USD, NZD/USD and WTI outlook - Technical Tuesday
Welcome to Technical Tuesday, a weekly report where we highlight some of the most interesting markets that will hopefully appease technical analysts and traders alike. In this week’s report, we are getting technical on the AUD/USD and NZD/USD, as well as WTI crude oil, as traders await key data in the second half of the week.