WTI hovers around $73.60 despite a soft US Dollar
WTI is set to end the week with substantial losses of 8.40% The jobs report showed a slowdown in wages, while the labor market remains resilient. WTI failed to capitalize on US Dollar weakness after the US Services PMI shrinkage Western Texas Intermediate (WTI), the US crude oil benchmark, hovers at around $73.70s, almost flat, […]
WTI Crude Oil: Elliott wave analysis and forecast for 06.01.23 – 13.01.23
2023-01-06 2023-01-06 WTI Crude Oil: Elliott wave analysis and forecast for 06.01.23 – 13.01.23 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ Main scenario: consider short positions from corrections below the level of 84.05 with a target of 63.00 – 54.50 once a correction is completed. Alternative scenario: breakout and consolidation above the level of 84.05 will allow the asset to […]
Oil & Forex: Great USD Setups for the Upcoming Price Caps
Forex traders often focus on one of the three major sessions (Tokyo, London, and New York), rather than attempt to trade the markets 24 hours per day. Join the Analyst On Demand Trading Room, where Tian Kriek shares his pro strategies for trading the New York Session. In today’s issue, we talk about the oil […]
Crude Oil Prices Inch Up Amid Winter Storms in US
Crude oil spot prices inched up towards 80 USD per barrel amid a spike in demand for heating fuel, and fierce winter storms in the US and Canada. Market expectations of a recession in 2023 weighed on crude oil prices for most of December. These were countered by winter storms and improved global growth prospects […]
Market Update – January 4 – USD & JPY hold gains, Stocks flat & Oil tanks
The first full day of 2023 saw stocks flat, a bid for the Greenback & Yen, weaker EUR following softer German CPI data and Oil markets collapse on global growth worries. Treasuries are firmer with US10yr yields losing -2.61%. Overnight Asian stocks have traded mostly firmer despite the negative handover […]