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Forex Trading, Market News & Technical Analysis

Crude Oil Rose on Expectations of Production Cuts; WTI Rallies to $50/Barrel

Posted by Chris Advincula on May 19, 2017 6:51:26 AM

(May 19 Friday) The price of oil futures rose to a month's high on market demand and expectations of further production output cuts by the major oil producing countries. Analysts are saying that Saudi Arabia and other OPEC member nations, together with Russia are expecting cuts to about 1.8 million barrels per day until the end of March 2018. U.S. producers on the other hand, are not participating on reducing oil production.

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Topics: commodities, WTI, West Texas Intermediate crude oil, BRENT OIL

Today’s Trading Edge: Gold slides as risk appetite returns following first round of French elections

Posted by WorldWideMarkets . on Apr 23, 2017 9:03:37 PM

Gold prices had the worst decline in seven weeks following early estimates that political novice Emmanuel Macron and far-right populist Marine Le Pen are headed for a run-off after the first round France Presidential elections.  The results were well received by Wall Street as risk assets surged.  The euro rallied over a percent and so did the major US indexes.  The worst case scenario of match between Le Pen and communist-back Jean Luc Melenchon was avoided.  The runoff election will now take place on May 7th

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Topics: commodities, precious metals, gold, $GLD

Today’s Trading Edge: Gold continues slide on interest rate outlook

Posted by WorldWideMarkets . on Mar 6, 2017 6:35:35 PM

Gold prices declined for a second consecutive day and to a two-week low as prospects grow for the Fed to raise rates at its March 14-15th meeting.  Fed Fund Futures have risen from 40% in late February to over 95% on Monday that Fed will raise at its next meeting. 

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Topics: commodities, gold, $GLD, Fed policy

Today’s Trading Edge: Gold remains bid as markets await President Trump’s tax plan

Posted by WorldWideMarkets . on Feb 20, 2017 8:54:34 PM

 

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Topics: commodities, precious metals, gold, $GLD

Technical Analysis: WTI Crude Oil Forms Rising Channel at 54.00 - 44.00

Posted by Chris Advincula on Feb 10, 2017 3:20:57 PM

(Feb 10 Friday) WTI Crude Oil displays a rising channel pattern with three visible rising support lows: 35.25 (April 3) - 39.25 (Aug 1) and 43.02 (Nov 1). The top side, although not a perfect straight line also shows the highs are ascending as well; 51.64 (Jun 8) - 52.20 (50.80) and 55.22 (Jan 2).

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Topics: commodities, technical anlaysis, WTI, West Texas Intermediate crude oil

 

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