All Articles Tagged - WTI

US Open Note – Stocks brush with highs, dollar flickers green and yields dip

Posted on June 11, 2021 at 1:51 pm GMT

Stocks and dollar climb a tad but market appetite appears muted Major US indices are holding near their highs with the S&P 500 index nudging up towards yesterday’s intra-day record high as the vibe in markets remains subdued, looking unresponsive to inflation and saturated talk around early tapering. Echoes from yesterday’s ECB meeting and the stronger US inflation results for May (Core CPI at 0.7% m/m and 3.8% y/y) seem to have fallen on deaf ears as a relatively [..]

US Open Note – Stocks laid back as dollar flickers some life despite dip in yields

Posted on June 8, 2021 at 2:41 pm GMT

Risk appetite vanishes; inflation and taper talk jitters persist Although the market outlook is largely optimistic, economies are emanating a lethargic vibe and seem to be searching for an assisting jolt to rekindle risk appetite. Investors may be looking aimlessly to the ECB and the Fed to provide markets with immediate booster jabs. Nonetheless, investors’ radars remain set around taper talks and price pressures and for sure the ECB’s and the Fed’s rhetoric around these issues will be cautious and [..]

Technical Analysis – WTI futures deep below 69.00; indicators are mixed

Posted on June 8, 2021 at 7:44 am GMT

Since their deep fall towards 68.50, WTI crude oil futures have been going back and forth below the 20-period simple moving average (SMA) from the 32-month peak of 69.98. The technical picture is mixed as the RSI is lacking direction around its neutral threshold of 50, while the MACD supports that the pullback to the downside is likely to continue in the short term. In case of negative pressures, the market could meet support at the 68.25 barrier before it [..]

Technical Analysis – WTI futures eye 70 handle as buyers gain confidence

Posted on June 3, 2021 at 9:09 am GMT

WTI oil futures have stretched to a 31½-month high of 69.38 after closing successfully above the 68.00 level, and are now quickly approaching a fortified buffer zone shaped between the 70.00 and 71.00 round numbers. The advancing simple moving averages (SMAs) are defending the bullish structure, while the slight upturn in the 50-day SMA is reflecting a pickup in near-term sentiment. The Ichimoku lines and the short-term oscillators are indicating growing positive drive. The MACD is strengthening above its red [..]

US Open Note – Stocks muted near highs, dollar receives hawkish shot

Posted on June 2, 2021 at 2:44 pm GMT

Stocks risk appetite fades; dollar briefly gains an edge US major indices remained largely unchanged near their highs, while the dollar got a boost from the Fed tapering talk-jab, which saw the greenback regain the upper hand over some of its peers in the forex space. The dollar index extended yesterday’s price developments towards the 90.20 mark but the recent dollar strength may not prove so sustainable, especially as this week’s market sentiment is highlighted by NFP payrolls. The EUR/USD [..]

US Open Note – Stocks improve after US holiday, dollar even ahead of US data

Posted on June 1, 2021 at 1:40 pm GMT

Stocks flash risk-on and dollar holds neutral; gold and oil hover near highs Risk-appetite seems to have accumulated after the US Memorial Day holiday with US major indices continuing to improve. The vulnerable dollar remains defenceless receiving no assistance from yields, with the 10-year yield at depressed levels around 1.55%. The dollar index is largely static around 89.85, underperforming against its forex peers. Although the US economy remains robust with rising consumption despite inflation picking up, the news today could [..]

Technical Analysis – WTI futures push above ceiling at 68.00 mark

Posted on June 1, 2021 at 10:36 am GMT

WTI oil futures have propelled to a 31-month high of 68.40, overcoming the 68.00 handle, which had limited gains for around two-months. The bullish crossover of the 100-period simple moving average (SMA) by the 50-period one is suggesting positive sentiment is gaining some pace. Although currently frozen, the Ichimoku lines are also reflecting the pickup in positive momentum. The short-term oscillators are skewed to the upside; however, they are also mirroring the slight pause in bullish price action. The MACD [..]

OPEC meeting unlikely to roil markets, but Iran might – Special Report

Posted on May 31, 2021 at 2:53 pm GMT

It’s a crucial week for the oil market, with an OPEC+ meeting on Tuesday that will likely see the cartel and its allies increase their production gradually, capitalizing on the improvement in demand. This has already been decided, so the market reaction this time will depend on the signals they send about any future moves. As for oil prices, the main downside risk is a flood of Iranian supply returning to the market later this year. Sticking to the plan [..]

US Open Note – Stocks largely silent, dollar stumbles and yields provide no support

Posted on May 27, 2021 at 1:45 pm GMT

Stocks hint risk absence, dollar loses confidence, GDP and jobless claims draw focus The mood in markets seems to be subdued with major US indices remaining largely unchanged after today’s US GDP and weekly unemployment claims. The dollar seems to be playing defence as the 10-year yield dips to 1.53%. The dollar index is consolidating around the 90.00 mark. The pound has performed well, pivoting around $1.4100 and building strong traction on the dollar’s slight setback. The euro recouped earlier [..]

Technical Analysis – WTI futures work to boost bullish bias past 68.00 mark

Posted on May 27, 2021 at 8:38 am GMT

WTI oil futures are lacking positive thrust to surpass the resistance border moulded between the 66.42 high and the 28½-month peak of 67.96. The advancing 100- and 200-day simple moving averages (SMAs) are aiding the bullish structure in the big picture, while the flattening 50-day SMA, is reflecting the recent struggle in the commodity to log further improvements. The static Ichimoku lines are indicating the absence of positive drive necessary to revive the uptrend, while the short-term oscillators are conveying [..]

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