All Articles Tagged - WTI

Technical Analysis – WTI futures slow ahead of vital resistance zone

Posted on May 26, 2021 at 2:43 pm GMT

WTI oil futures have retreated before really challenging the vital resistance section of 66.57-67.96 and are now finding some footing near the mid-Bollinger band at 65.20 on the four-hour chart. The improving 50-period simple moving average (SMA) and the 100- and 200-period SMAs are endorsing a more neutral-to-bullish bearing. The short-term oscillators are mirroring the pullback in price but are currently transmitting mixed signals in directional momentum. The MACD, above the zero threshold, has slipped beneath its red trigger line [..]

US Open Note – Stocks improve, dollar on back foot as yields dip again

Posted on May 25, 2021 at 1:49 pm GMT

Stocks creep up as dollar heads toward 5-month lows; Fed echoes no alarm Markets seem to be emanating a slight improvement in risk sentiment as major US indices are extending yesterday’s rally at a somewhat slower pace. The fresh dip in the US 10-year yield, currently at 1.58%, is not providing any assistance for the dollar to regain some of its market dominance. As rates are not going anywhere soon as the inflation narrative continues to be downplayed, the dollar [..]

US Open Note – Stocks pick up, dollar hurt and gold retains bullish tone

Posted on May 18, 2021 at 1:15 pm GMT

Stocks recoup yesterday’s lost ground as dollar loses dominance US major indices are largely holding around yesterday’s highs after having reclaimed surrendered ground, emanating a slight pickup in risk appetite. That said the damage in the greenback is being felt across the board. The dollar index plunged below the 90.0 mark and has managed to stabilize around 89.70. The Fed’s dovish stance seems to be weighing on the greenback and sentiment appears to be subdued. Steady yields are not discouraging [..]

Technical Analysis – WTI futures consolidate above 66.00 in near term

Posted on May 18, 2021 at 6:21 am GMT

WTI futures have been trading within a consolidation area of 63.09-66.63 since April 28. The price found support at the 20- and 40-period simple moving averages (SMAs) and is moving towards the 66.63 resistance level. The MACD oscillator is strengthening its bullish structure above its trigger and zero lines, however, the RSI is pointing slightly down in the positive region. A successful rally above 66.63 could take the commodity until the 67.93 barrier, registered on March 8. More aggressive buying [..]

US Open Note – Stocks stabilize with US inflation uncertainty, dollar flickers green

Posted on May 12, 2021 at 1:28 pm GMT

Market retraction pauses; US CPI shocks markets but effects fade Investors have been patiently awaiting hints from US inflation today on whether the stride of the recovery has somewhat slowed. The risk-off climate is not receiving any assistance from yields and it seems profit taking and inflation could be the premise for the latest risk-off environment. The pullback of the highs in the major US indices continues to denote the deterioration in near-term risk sentiment despite the release of [..]

Technical Analysis – WTI futures head up, approaching 2½-month high

Posted on May 6, 2021 at 6:49 am GMT

WTI futures are heading slightly north after the decline from the two-month high of 66.73. In trend indicators, the 20- and 40-day simple moving averages (SMAs) are creating a bullish crossover, standing near the uptrend line. The RSI is confirming the recent upside move, while the MACD oscillator is still moving above its trigger and zero lines. The price is trying to meet the next resistance of the two-and-a-half-year high of 67.96. If traders continue to buy the commodity, the [..]

US Open Note – Stocks recoup lost ground, dollar retreats, gold steadies and oil climbs

Posted on May 5, 2021 at 2:27 pm GMT

Stocks recover and dollar bounces back As a slight return in risk assets seeps into markets and major US indices regain their buoyancy, the forex environment seems to be subdued. The Nasdaq is reclaiming yesterdays’ lost ground but at a slower pace than the S&P 500, while the Dow Jones is holding back at its all-time highs. The blow to markets footing was apparent in the US indices’ Tuesday tumble, corresponding to US Treasury Secretary Yellen’s erroneous choice of words [..]

US Open Note –Stocks strong around highs, yields receive boost, dollar on back foot

Posted on April 29, 2021 at 1:44 pm GMT

Stocks optimistic as yields rise, risk remains somewhat subdued, GDP data key Stocks maintain an upbeat tone with the S&P 500 index winning the race, currently at the 4,214 level. The dollar index has surrendered its latest gains to today’s high of 90.67, pulling slightly lower to 90.53. The stumble in the greenback has strengthened the euro to $1.2133 assisted by a slur of positive Eurozone data, which is outperforming the relatively subdued sterling at $1.3944. The Fed has somewhat [..]

US Open Note – Stocks in the red, dollar barely heals, oil surrenders gains

Posted on April 20, 2021 at 1:31 pm GMT

Dollar nudges a tad higher with rising yields, major forex pairs capitalise Major stock markets eased off their recent highs while the dollar index managed to gather some footing around 90.82, prodding just above the 91.00 mark. The recovery narrative, with stimulus in the pipeline and rising yields – 10-year Treasuries advanced to 1.62% – seems to be very much alive, even though the Fed’s insistence that it won’t raise rates prematurely has cooled the dollar lately. Markets’ subdued demeanour [..]

Technical Analysis – WTI futures surpass Ichimoku cloud and 62.60 level

Posted on April 15, 2021 at 6:25 am GMT

WTI crude oil futures are increasing their positive bias after several days of flat periods, remaining above the long-term ascending trend line. The price is trying to exit from the Ichimoku cloud moving towards the next resistance of the two-and-a-half-year high of 67.96. If traders continue to buy the commodity, the price could hit the 75.24 inside swing high from July 2018 ahead of the 76.87 hurdle, being the top of September 2018. Having a look at the technical indicators, [..]

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