All Articles Tagged - WTI

US Open Note – Yen is in vertical fall; oil surpasses $82

Posted on October 11, 2021 at 12:57 pm GMT

Yen plunges driving dollar/yen sharply higher As a new week begins, the yen continues to plunge, pushed lower by a comeback in Asian stocks despite a rise in Japanese yields. Indeed, the 10-year JGB yield, which is currently at 0.093%, is on its way to 0.1%. The pound is currently the strongest, thanks to hawkish statements from Bank of England officials over the weekend. The Australian Dollar is closely following, and it is leading other commodity currencies higher as well. The US dollar index is weakening, [..]

Technical Analysis – WTI futures retreat from the 7-year high

Posted on October 7, 2021 at 11:33 am GMT

WTI crude oil futures have been in a somewhat negative correction mode over the last couple of sessions after the aggressive upside rally towards the seven-year high of 79.76 on Wednesday. Regarding the technical indicators, the MACD oscillator is losing ground in the positive region and is approaching its trigger line for a possible bearish crossover. Moreover, the RSI is heading south after the jump to the overbought territory. The red Tenkan-sen line is sloping down above the blue Kijun-sen [..]

US Open Note – Greenback still in positive mode as US government shutdown averted

Posted on September 30, 2021 at 1:10 pm GMT

Dollar completes green days; initial jobless claims and GDP published The dollar is still in a surging mode, with dollar index being in positive green for the fifth day in a row, hitting fresh one-year highs of 94.50. Also, dollar/yen is completing a new 20-month high at 112.07. Euro/dollar is hovering near the 20-month trough of 1.1567, posting aggressive losses in the last days. Finally, cable found support near $1.34 and is returning north. US futures are pointing for a positive open [..]

Technical Analysis – WTI futures climb sharply higher, hitting new highs

Posted on September 28, 2021 at 7:14 am GMT

WTI futures have been in an extremely bullish rally over the last week, meeting a three-month high of 76.37. The broader outlook is also positive after the rebound off 61.75, while the technical indicators are heading north. The RSI is holding in the overbought region and the MACD oscillator is gaining momentum above its trigger and zero lines. In case the market moves higher, the next resistance could be the inside swing low of October 2014 at 79.10 before the [..]

Technical Analysis – WTI futures holds a bullish bias but strong resistance awaits near 73.00

Posted on September 23, 2021 at 6:42 am GMT

WTI futures are climbing above the Ichimoku cloud and the bullish crossover within the 20- and 40-day simple moving averages (SMAs), challenging again the previous days’ high of 72.86. According to the technical indicators, the MACD is overcoming its trigger line and is gaining momentum in the positive region, while the RSI indicator is ticking higher above the neutral threshold of 50. Both are confirming the recent bullish bias in the near term. Also, the market is trading above [..]

US Open Note – Dollar back to gains at the end of the week

Posted on September 17, 2021 at 12:38 pm GMT

Dollar/yen back above 110.00 Prior to the weekend, the dollar is holding onto its recently gained ground, with dollar/yen approaching the 110.00 psychological number. Moreover, the dollar index is currently trading at 92.78, remaining above the 50-day simple moving average (SMA). Euro/dollar is showing some positive movement today, holding near 1.1780. US futures are pointing to a positive open. Headline retail sales in the US were projected to decrease -0.7% m/m but instead gained 0.75% m/m, compared to a revised -1.8% in July. UK retail sales drive pound lower The British pound declined below $1.3800 as retail [..]

US Open Note – Yen and oil surge as futures are steady

Posted on September 15, 2021 at 1:00 pm GMT

US inflation mildly affects dollar US inflation had a mild negative influence on the dollar, but yesterday’s fragile risk sentiment gave it a boost. This suggests that markets believe the Fed will delay tapering next week, which might lead to a range bound environment until the end of the week. In addition, China’s efforts to rein in private enterprises and the impact of the delta virus strain on economic development are among them. The US dollar index is heading south around the 50-day simple moving average (SMA), [..]

US Open Note – Dollar rises ahead of busy week

Posted on September 13, 2021 at 12:46 pm GMT

Next on radar is US CPI tomorrow A busy week is on the table this week in terms of economic data in the US. This month’s CPI report is expected to show that inflation has slowed down a bit from July’s 13-year high of 5.4% in July. Inflationary pressures will be closely monitored by investors to determine whether the Fed’s tapering will be gradual or quick. The dollar continues to rise with the US dollar index developing near 92.87, surpassing the 50-day [..]

US Open Note – Markets calm down ahead of Jackson Hole

Posted on August 25, 2021 at 12:53 pm GMT

FOMC meeting and Jackson Hole attract attention There have been several confusing messages leading up to the summit (27 August). The Fed’s vice chair, Clarida, hinted at an early taper when he stated that rates could rise as early as 2022. In the US, the number of covid cases and deaths is on the rise. Especially after Kaplan’s comments on Friday, investors are increasingly focused on this factor in the run-up to the FOMC. This Thursday, the Federal Reserve’s annual Jackson Hole Symposium gets underway, and it [..]

Technical Analysis – WTI futures rises above short-term SMAs

Posted on August 24, 2021 at 10:55 am GMT

WTI crude oil futures have been in a strong positive movement over the last 4-hour sessions, following the turning point at the 61.75 support level. The price jumped above the short-term SMAs and is moving towards the Ichimoku cloud. The RSI is approaching the overbought territory, while the MACD is holding above its trigger and zero lines. The price is heading towards the 67.50 barrier before potentially resting around the 69.45 resistance, which overlaps with the 200-period SMA. If the [..]

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