Geopolitical tensions which were triggered over the weekend were the main driver for the upward movement of the oil price. However, as these tensions are easing off a little, we see the focus back towards the over supply issue. The main support is near the 37.75 mark and a break of this level will open…
Read MoreThe EUR/USD pair is trading in a downward channel on a 4 hour time frame. This confirms that the trend is towards the downside. The pair is also trading below the 50 day (shown in green) and 100 day (shown in red) moving average and this further confirms the above argument. The EUR/USD is also…
Read MoreCrude oil is trading below its downward trend line on a 4 hour time frame. The price is also trading in a downward channel and as long as we trade within this channel the bias remains towards the downside. The price is firmly below the 50 day shown in yellow and the 100 day shown…
Read MoreFundamental Analysis Crude inventory data has taken the steam out of the crude rally. There is no doubt that there has been so much CAPEX cut as we have seen during the earning season but the fact is that these companies are only cutting their expenditure where their involvement is with deep sea wells. Exxon…
Read MoreThe USD/JPY pair is trading above its upward trend line on a 4 hour time frame. This confirms that the trend is towards the upside. We are also trading in a slightly downward channel and the price is about to challenge the upper line of this channel and a break of this line will be…
Read MoreCrude oil has broken its downward wedge pattern towards the upside on a 4 hour time frame. The break out of this wedge pattern is a bullish sing for the price action. The price is also trading above its 50 day moving average shown in yellow and near the 100 day moving average shown in…
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