Room for extra losses near term
Considering advanced figures from CME Group for crude oil futures markets, traders added around 16.4K contracts to their open interest positions on Tuesday, clinching the third consecutive daily advance. On the other hand, volume resumed the downtrend and dropped by around 133.6K contracts. WTI faces a minor support near $78.00 Prices of the WTI started […]
WTI crude futures settles at $80.13
Crude oil settled just below the 200 are moving average The high for the day reached $82.22. The low extended to $79.66. The high price yesterday reached the high price from last week near $82.66. The double top neutralize the market a bit. Moving below the 100 hour moving average with momentum in the New […]
WTI crude oil futures settle at $81.64
The price of WTI crude oil futures for February is settling up $0.98 or 1.22% at $81.31. The high price reached $81.91. Low price was at $79.91. For the March contract it is settling at $81.64 up $1.03 For the trading week, the price is up 2.18% The 100 day moving average for crude oil […]
S&P500 Futures continues downside on slowdown fears, yields refresh multi-month low
Market sentiment remains negative as lower US PPI has pushed S&P500 valuations to the expensive side. Firms have been forced to trim the prices of their offerings to match weaker demand. Lower US PPI-inspired downward revision for inflation projections has sent US Treasury yields to a multi-month low. Intense sell-off by the market participants in […]
ZINC Futures ( ZINC1!), H4 Potential for Bullish Rise
Type: Bullish RiseKey Levels:Resistance:291.70Pivot:277.30Support:263.15Preferred Case:Looking at the H4 chart, my overall bias for ZINC1! is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect price to continue heading towards the resistance at 291.70, where the 50% Fibonacci line is.Alternative Scenario:Price may head back […]
Eurostoxx futures -0.3% in early European trading
German DAX futures -0.3% UK FTSE futures -0.1% It’s just a minor dent for European indices after a rather hot start to the new year. The DAX is at its highest levels since February last year with the UK FTSE just a whisker away from its all-time high seen in 2018. This comes as US […]
CME Group Hits Record 7.56M Single-Day SOFR Futures and Options Contracts
The single-day volume of Secured Overnight Financing Rate (SOFR) futures and options contracts traded on the Chicago Mercantile Exchange (CME) hit a record 7.56 million contracts on January 12. This came with a record open interest rate of 35.7 million contracts on the same day, CME Group disclosed in a press statement. AloGatewayis a Global […]
Nikkei Futures ( NKD1!), H4 Potential for Bearish continuation
Type: Bearish continuationKey Levels:Resistance:26555Pivot:25960Support:25610Preferred Case:Looking at the H4 chart, my overall bias for NKD1! is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. If this bearish momentum continues, expect price to continue heading towards the support at 25610, where the previous swing low is.Alternative Scenario:Price may head back […]
Coffee C Futures ( KC1! ), H4 Potential for Bearish Drop
Type: Bearish DropKey Levels:Resistance:154.30Pivot:164.00Support:142.05Preferred Case:Looking at the H4 chart, my overall bias for KC1! is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to continue heading towards the support at 142.05, where the recent low is.Alternative Scenario:Price may head back […]
CAC 40 Futures ( FCE1! ), H4 Potential for Bullish continuation
Type: Bullish ContinuationKey Levels:Resistance:7381.5Pivot: 6397.5Support: 6797.5Preferred Case:Looking at the H4 chart, my overall bias for FCE1! is bullish due to the current price crossing above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect price to continue heading towards the resistance at 7381.5, where the previous swing high is. Alternative Scenario:Price […]