#WTI CRUDE OIL Technical Analysis

[starseedfxofficial]

The Market Behind the Curtain: Cracking Depth of Market + WTI Alright, traders, grab your magnifying glasses—we’re about to dive into some deep, deep water. Not literal WTI oil wells, mind you, but deep enough to understand what's behind those flashy charts that move faster than a caffeine-fueled squirrel. Today, we’re peeling back the layers of the market with a focus on the Depth of Market (DOM) for WTI crude oil. By the end of this, you’ll have a newfound understanding that most traders miss, and let's be honest, we'll also have a few laughs at our own mistakes along the way—like that time you accidentally bought 100 barrels of oil and had to explain to your family why the backyard now smells like a Texan oil field. The Trading Mirage: Why Depth of Market is Your Secret Weapon Imagine standing at the edge of a pool. The water looks crystal clear, but you know there’s a whole ecosystem below—that’s the market for you. Depth of Market (DOM) isn’t just another indicator; it’s like having a scuba suit for your trading pool, letting you explore the true dynamics of price movements and order flow. If you're serious about trading WTI, it's time to stop relying solely on standard indicators and start exploring the real buy and sell forces. DOM helps you see limit orders at various levels. It’s essentially a heat map showing where the sharks (a.k.a. institutional traders) are lurking. Knowing where these sharks are positioned gives you the kind of insight that’s akin to having insider information—no, not the illegal kind—but the kind that can tell you whether those price moves are supported by actual volume or are just deceptive fish swimming in shallow waters. Order Flow 101: More Than Just Numbers on a Screen Think of order flow as the lifeblood of the market—it's like understanding why your fridge mysteriously empties itself overnight (spoiler: it’s you). When you look at order flow in the context of WTI, you’re gaining insights that go beyond mere price analysis. This is where understanding the Depth of Market becomes indispensable. For instance, let’s say the WTI market is showing signs of a breakout. The typical trader sees the price action and thinks, "Here we go! To the moon!" But the savvy trader, the one equipped with DOM, is busy analyzing the order book—checking if the bids are genuine or if it’s just an illusion, like a well-staged magic trick. If you see a sudden stack of large bids, chances are someone’s preparing for a move, but if these bids suddenly disappear, you might be dealing with a trap set by market makers. Why Most Traders Miss Out on WTI’s Depth of Market (And How You Can Use It To Outsmart Them) You know that gut-wrenching feeling when you’re halfway through cooking and realize you’re out of an essential ingredient? That’s a bit like trading without paying attention to Depth of Market. Most traders out there are either unaware of DOM or think it's too much information. But, let’s face it—more data doesn’t necessarily complicate things; it lets you see behind the market's curtain. By focusing on DOM in WTI, you gain a critical edge. You can identify spoofing activity, where market players place large orders just to cancel them to manipulate price perceptions—kind of like pretending to be interested in that fancy watch, just to seem cool in front of the salesperson, only to ghost them a minute later. Identifying spoofers in the WTI market can help you avoid falling for false breakouts and instead position yourself to take advantage of these moves. Hidden Patterns: The Ninja Tactics of DOM Analysis Now, if you want to step into advanced trader territory—the kind where you stop reacting to the market and start predicting it—you’ll need some ninja tactics. Here's a golden nugget: identify the imbalance between bid and ask orders. When you see large bids with a relatively empty ask side, you know something is brewing. This isn’t just advanced technical analysis; it's like reading the market's diary—without the lock, of course. For instance, if you notice a significant imbalance at a support level in WTI, it could be a tell-tale sign of major buying interest. Most traders jump in only after the price has started to move, but by watching DOM, you can preemptively strike—positioning yourself just before the market wakes up. It’s like setting up your tent before the prime camping spot gets crowded. Unconventional Approaches to WTI Trading: Finding the Sweet Spot Alright, let’s tackle the elephant in the room: timing. Trading WTI isn’t just about getting in at the right price; it’s also about when you get in. DOM is particularly helpful in figuring out when the market’s prime for a big move. During times when liquidity is low, and volatility spikes—let’s say, around major oil inventory reports—having a clear read on the market depth can make the difference between a winning trade and one that fizzles out like a lukewarm soda. One contrarian strategy is to use the Depth of Market during times of quiet trading sessions—such as late hours before Asian markets open—to find hidden opportunities. Large orders during these times may be a precursor to significant moves, as the big players sneak in their positions under the radar. It’s like setting up for a party before the guests arrive; when the market does decide to wake up, you’re already ahead of the game. Case Study: The Market Moves You Never Saw Coming Last year, during a particularly volatile week when OPEC couldn’t decide on output limits, a lot of traders got whipsawed out of WTI trades. However, one savvy trader (let’s call her Jane) used Depth of Market data to identify heavy bid interest around a key level. Instead of chasing the price, she waited—spotting that institutional orders were building up. Sure enough, the price didn’t just spike—it skyrocketed, and Jane made enough money to take that dream vacation to the Bahamas. This is the power of Depth of Market. It gives you the foresight to anticipate big moves, while others are still panicking over their candlestick patterns. And speaking of candlesticks—as beautiful as they are, they’re sometimes just a reflection of past movements. DOM is what’s happening now. How to Get Started with DOM and Find Your Edge If all this talk about Depth of Market has got you intrigued, it’s time to dive in. Start small—no need to immediately trade based on DOM alone. Instead, add it to your toolbox and spend time observing how price action and market depth interact, especially during high-impact news events. And, if you want to supercharge your understanding, here’s a secret—you don’t need to go at it alone. Platforms like StarseedFX provide resources and tools to make sense of advanced trading concepts like Depth of Market and how it applies to commodities like WTI. - Latest Economic Indicators and Forex News: Get real-time updates so you’re always in the loop with what’s happening behind the scenes: Forex News Today. - Forex Education: Expand your toolkit with in-depth resources that help you understand advanced methodologies, including the elusive Depth of Market concept: Free Forex Courses. - Community Membership: Tap into insights and daily alerts with StarseedFX's trading community: Join Now. Trading WTI with Precision Trading WTI using Depth of Market is like stepping into the VIP section of the market—you get a view that most people miss. By understanding order flow, recognizing spoofing tactics, and observing bid-ask imbalances, you’re not just another trader relying on lagging indicators. You’re an insider, seeing how the market really moves. Just remember: trading, like life, comes with risks. Always manage your positions carefully, and don't overleverage. After all, we’re in this to trade, not to end up explaining to our partners why our backyard looks like an oil refinery. So, grab your metaphorical scuba gear, dive into the Depth of Market, and discover those hidden gems waiting beneath the surface of WTI. —————– Image Credits: Cover image at the top is AI-generated Read the full article

[accapitalmarket]

Crude oil continues to edge higher, Dollar above 200 SMA

Crude prices stabilized Monday after the previous week’s positive tone on signs of stronger oil products demand in the U.S., world's largest consumer.

Both WTI and Brent gained around 3% last week after data from the Energy Information Administration showed a hefty drawdown in U.S. crude stockpiles, pointing to healthy demand as the summer driving season kicks into top gear.

USOIL H1

The market also received support from worsening geopolitical conditions as the risk of an all-out war between Israel and Hezbollah, as an extension of the conflict with Hamas rises, playing into expectations of supply disruptions in the Middle East.

Continued clashes between Russia and Ukraine, with Kyiv targeting major Russian refineries, also spurred concerns over supply disruptions.

Furthermore, the hope for a summertime uptick in fuel demand for cooling and travel purposes could further support WTI prices.

On the other hand, the stronger US Dollar (USD) after the US S&P PMI data for June and the hawkish stance of Federal Reserve (Fed) officials is likely to support the black gold.

Crude Oil Technical Analysis

Crude oil price trades positively to start testing 81.50$ level, the price needs to break this level to reinforce the expectations of continuing the bullish trend for the upcoming sessions, reminding you that our waited targets begin at 82.25$ followed by 83.90$.

UKOIL H1

The bullish channel continues to organize the suggested bullish wave, which will remain valid conditioned by the price stability above 80.80$.

Expected Trading Range between 79.70$ support and 82.70$ resistance.

DXY H1

In the meantime, the USD index (DXY), which measures the strength of dollar against a basket of currencies, also remained strong and hovered around the 200-day SMA.

Disclaimer:

The information contained in this market commentary is of general nature only and does not take into account your objectives, financial situation or needs. You are strongly recommended to seek independent financial advice before making any investment decisions.

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The content of this market commentary is owned by AC Capital Market (V) Ltd. Any illegal reproduction of this content will result in immediate legal action.

[akshat-kapoor]

Understanding ONGC Share Price: Insights and Analysis

Oil and Natural Gas Corporation Limited (ONGC) is a cornerstone in India's energy sector, renowned for its role in exploration, production, and refining of oil and natural gas. Monitoring ONGC share price is crucial for investors looking to capitalize on opportunities in the energy market. Here’s an insightful analysis of factors influencing ONGC share price dynamics:

1. Economic Indicators and Global Oil Prices: ONGC, being a major player in the oil industry, is significantly affected by global oil prices. Movements in crude oil benchmarks like Brent and WTI directly impact ONGC’s revenue and profitability. Investors keenly observe economic indicators, geopolitical events, and OPEC decisions that influence oil prices, thereby affecting ONGC share price.

2. Financial Performance and Earnings Reports: Quarterly financial results and annual earnings reports play a pivotal role in ONGC share price movements. Key metrics such as revenue growth, net profit margins, and production figures are closely scrutinized by analysts and investors. Positive earnings surprises or operational efficiencies often lead to upward adjustments in ONGC’s share price.

3. Government Policies and Regulatory Environment: As a state-owned enterprise, ONGC is subject to government policies and regulatory changes in the energy sector. Policy decisions on subsidies, taxation, and exploration rights can impact ONGC’s profitability and strategic initiatives, thereby influencing its share price.

4. Technological Advancements and Operational Efficiency: ONGC’s adoption of advanced technologies in exploration and production processes enhances operational efficiency and cost-effectiveness. Innovations in drilling techniques, reservoir management, and environmental sustainability initiatives can positively impact investor sentiment and contribute to share price appreciation.

5. Market Sentiment and Investor Confidence: Overall market sentiment, investor confidence in the energy sector, and broader economic conditions also influence ONGC share price. Positive sentiment towards energy stocks, favorable industry trends, and investor perception of ONGC’s strategic direction can drive buying interest and support share price growth.

Investment Considerations: Investors considering ONGC shares should conduct thorough research, monitor industry trends, and assess macroeconomic factors influencing oil prices. Utilizing financial tools such as price-to-earnings ratios, dividend yield analysis, and technical indicators can aid in making informed investment decisions.

In conclusion, understanding ONGC share price requires a holistic approach that integrates economic trends, financial performance, regulatory landscapes, and investor sentiment. By staying informed and proactive, investors can navigate the complexities of the energy market and capitalize on opportunities presented by ONGC’s strategic position in India’s oil and gas industry.

[g86950332]

Weekly Market Insights and Currency Analysis for Traders – Rich Smart Finance

Welcome to our weekly market update brought to you by Rich Smart Finance. As we approach the conclusion of another trading week, let's delve into the latest market trends and currency analysis to empower your trading decisions.

Market Overview: The past week has been marked by a blend of economic data and geopolitical tensions influencing market sentiment. The US dollar witnessed a slowdown post the release of US jobless claims, fueling speculation about potential rate cuts. However, lingering concerns about labor market conditions continue to keep investors on edge.

US Economy: Recent data revealed that the US economy added 175,000 jobs in April, falling short of expectations. Concurrently, jobless claims rose, signaling potential challenges in the labor market. Despite this, corporate buybacks surged, providing a boost to equity markets.

Commodities: WTI crude oil and RBOB gasoline concluded the week on a higher note amidst escalating geopolitical tensions, notably in the Middle East. The Hamas-Israel conflict and disruptions to crude oil supplies have contributed to the elevation in oil prices.

Currency Analysis:

GOLD and SILVER: Both GOLD and SILVER have demonstrated bullish momentum, supported by robust volume.

DXY: The US dollar exhibited weakness, failing to breach crucial resistance levels. Further downside is anticipated if specific support levels are breached.

GBPUSD, AUDUSD, NZDUSD, EURUSD, USDJPY, USDCHF, and USDCAD: Each currency pair presents distinctive dynamics, with technical analysis suggesting potential price movements in the forthcoming sessions.

As we anticipate the upcoming trading week, it's imperative for traders to remain vigilant and adaptable. RichSmart Finance remains dedicated to providing insights and analysis to guide your trading strategies in today's dynamic market landscape.

Stay tuned for more updates and remember to trade wisely.

[gambitaibot]

Crude Oil Dips as US Dollar Steadies with a Pending Debt Deal Vote. Where to for WTI?

Crude Oil, WTI, Brent, US Dollar, Debt Deal, T-Bills, AUD/USD, USD/JPY — Talking Points

The crude oil price retreated inside the range today after trying higher

The debt ceiling deal appears to be heading in the right direction for a resolution

US Dollar movements might determine crude direction. Will a debt deal undermine USD?

The crude oil price slipped on Tuesday but remains within a range despite the prospect of the debt ceiling issue being resolved this week.

It is being reported that US President Joe Biden and House Speaker Kevin McCarthy are actively encouraging lawmakers to vote in favour of the debt ceiling agreement when it is presented to the floor on Wednesday.

Markets have breathed a sigh of relief, most notably at the very short end of the debt market. The T-Bill maturing on the 6th of June is back to where it was prior to the debt ceiling concern alarming markets. It traded as high as 7.10% last week but it is around 5.15% today.

The US Dollar has steadied so far today and has made ground against the Aussie and Kiwi Dollars.

Australian building approvals for April were a big miss at -8.1% month-on-month while Japan’s jobless rate eased lower to 2.6% for the same month, down from 2.8% prior and estimates of 2.7%.

Bank of Japan Governor Kazuo Ueda appeared before Parliament today and said that the ultra-loose monetary policy stance will remain for now but hinted toward a change in tack if inflation was to fall toward 2% later this year.

USD/JPY has pulled back from yesterday’s 6-month peak, trading near 140 at the time of going to print.

The geopolitical space remains somewhat murky this week with China declining an invitation from Washington for their respective defence ministers to meet.

APAC equity indices are generally in the red although South Korea’s KOSPI index is in the green. Wall Street futures are pointing toward a slightly positive start to their cash session as they return from yesterday’s Memorial Day holiday.

Crude oil market traders are starting to focus on the OPEC+ meeting that will start on June 4th.

There have been some mixed messages from member states but there is speculation that another cut in production might be in the offering. When they cut in early April, the oil price gapped higher. See the chart below.

Today, the WTI futures contract is under US$ 72.50 bbl while the Brent contract is a touch above US$ 76.50 bbl. Elsewhere, spot gold is slightly softer, trading near US$ 1,940.

Looking ahead, after Swiss GDP figures, the Eurozone and the US will see consumer confidence data.

The full economic calendar can be viewed here.\

WTI TECHNICAL ANALYSIS

WTI crude oil has remained in a 69.41–74.73 range for three weeks which is well within the broader range seen over the last six months.

This range trading environment has been tricky for traders with several false breaks. That is when a new high or low is made, only for the price to abruptly move back inside the range.

Created — TradingView, Written by Daniel McCarthy & Daily FX

— — Written by Daniel McCarthy, Strategist for Daily FX

[ankitjainofficial]

WTI Crude Oil Price & Natural Gas Price Live Today | OPEC MEETING TRADE -Analysis & Trading Strategy

This channel is to share with you all Trading related updates with technical analysis on Nifty, BankNifty, Dow Jones, Nasdaq, Nikkei, Dax, Hangseng, Gold, Silver and Oil.

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[tradinglevelsnpatterns]

Crude WTI Oil Technical Analysis & Forecast. Crudeoil Scalping & trading Levels and Setup. #trading #crude #crudeoil #forex #forextrading #daytrading #forexanalysis

[capital-streetfx]

Technical Analysis Report Today | Forex News – 10 May 2021 | Capital Street Fx

Technical Analysis Report Today | Forex News – 10 May 2021 | Capital Street Fx

ASIAN MARKET:- Mainland Chinese stocks were down by the early morning. The Shanghai Composite was down by 0.31% to 3,408.86. Hong Kong’s Hang Seng Index was down about 0.51% to 28,490.75. Japan’s benchmark Nikkei average. Nikkei 225 is trading up 0.49 per cent at 29,502.63 on Monday , while the  Australian Index S&P / ASX 200 rose 0.95 per cent to 7,154.71. South Korea’s Kospi was up by1.66% to…

[starseedfxofficial]

Artificial Intelligence Bots in Forex: The Ultimate Sidekick Artificial intelligence bots in Forex are like that super-knowledgeable friend who knows exactly where the price of WTI is heading, while you’re still scratching your head at the charts. But AI bots don’t need caffeine, don’t get emotional (even if they watched “Marley & Me”), and operate 24/7. While traditional traders use strategies that look good on a Saturday webinar, AI bots are there in the trenches, processing mind-numbing amounts of data and turning them into actionable insights. The best part? Unlike your usual trading gurus, these bots actually walk the talk. They backtest, analyze, and predict without the dramatic flair or $499-per-month mentorship programs. Insider Moves: How AI Bots Dominate WTI For those who don’t know, WTI (West Texas Intermediate) is a staple in the commodities market. It’s like the “It” oil of the Forex world—often overshadowing others with its price movements that resemble a rollercoaster ride after an energy drink overdose. Trading WTI is tough. It’s unpredictable, volatile, and requires intense dedication. Enter AI bots. Think of WTI price movements as that unpredictable uncle at Thanksgiving—one moment, they’re calm, and the next, they’re reenacting their glory days in the living room. AI bots, however, track every change—the minor shifts, the news headlines, and the trader sentiment—faster than you can spell 'volatility'. Their algorithms find correlations most traders miss, identifying potential entry points for maximum gains. Take note of this: an AI bot doesn’t just consider WTI’s inventory reports. It’s also crunching numbers on geopolitical tensions, weather patterns (because oil transportation is affected by hurricanes—go figure), and OPEC decisions. This 'all-seeing-eye' capability is why bots trading WTI often outperform manual traders. The WTI AI Bot Strategy: Turning Crude into Gold Let’s break down the ninja moves. Imagine your AI bot as a secret agent. It uses a combination of data mining, machine learning, and neural networks—the real 007 trio—to identify signals. Here’s what a typical setup might look like: - Inventory & Demand Analysis: AI bots keep a keen eye on WTI inventory data and correlate it with market sentiment. Low inventory? Expect the price to spike. - Sentiment Tracking: Bots use NLP (Natural Language Processing) to gauge sentiment across financial news, Twitter, and even Reddit (where serious money is discussed between memes). - Price Pattern Recognition: Unlike your typical technical trader who draws trend lines and hopes for the best, AI bots recognize repeatable patterns—patterns that have statistical backing, not just intuition. - Cross-Market Analysis: An AI bot that’s good with WTI also knows about the dollar index and other commodities. They understand relationships and correlations most traders only dream about. If the USD is weakening, WTI prices could rise—AI bots make these connections faster than any human. Trading with Emotion: Why AI Bots Are the Next-Gen Game-Changer Emotion is both the beauty and the curse of trading. Picture this: you see your WTI position in the red, and your brain screams, "ABORT MISSION!" You sell, only for the market to reverse and rocket sky-high. Happens to the best of us. AI bots, however, don’t feel panic or joy—they’re like that one friend who always keeps calm when everyone else is flailing. They execute based on data, which means fewer emotional, heat-of-the-moment mistakes. And here's the kicker: AI bots learn. Using machine learning techniques, they adjust, improve, and adapt with every market scenario. It’s like having a sidekick who not only knows the game but also gets better at it the more you play. The Secret Sauce to Outsmarting the Market There’s an almost mystical power in using AI bots, particularly when others aren't. They don’t get greedy, they don’t revenge trade, and they don’t over-leverage to compensate for a losing streak. These characteristics make them deadly efficient. But the real magic lies in combining AI bots with a solid understanding of WTI fundamentals. Pro traders often use bots as supplements. They provide direction based on the bot’s findings but keep the ultimate discretion to themselves. Picture it this way: you’re the captain, and the bot is your ship's navigator—capable of calculating the tides, winds, and weather conditions. But the final call is still yours to make. What’s the Catch? Understanding the Limitations of AI Bots Before you start envisioning AI bots as an all-knowing oracle, let's bust some myths. AI bots aren’t magic. They require data—good data—to perform well. If the inputs are flawed, so too will be the outputs. Bots also struggle in extremely erratic conditions where unpredictable fundamentals take control. Remember when Elon Musk tweeted about Dogecoin and moved the entire crypto market? AI bots may not always predict such 'wild card' events. Moreover, AI bots are designed by humans. Humans come with biases, and if those biases seep into the algorithms, the AI bots can end up mimicking flawed behavior on a larger scale. They need continuous tweaking and supervision. Insider Secrets to Getting Started with AI Bots for WTI So how do you get on board with this? Here's the play-by-play guide: - Choose Your AI Platform Wisely: Not all bots are created equal. Look for platforms that offer solid backtesting results and have a good track record. StarseedFX has an excellent range of smart trading tools designed to simplify this process. - Use a Hybrid Approach: Don’t rely solely on bots. Combine your market insights with bot data. Use bots to automate tasks, but don’t go full auto-pilot—unless you enjoy unnecessary thrills. - Optimize & Track: Use a trading journal (you can get one free at StarseedFX) to log your bot’s trades and analyze their effectiveness. Adjust strategies where necessary. - Keep It Realistic: No strategy—human or bot—wins 100% of the time. Remember that Forex trading is a game of probabilities, not certainties. Manage your risk accordingly. Elite Tactics & Strategic Advantages - Diversify Your Bot Portfolio: Don’t put all your WTI eggs in one AI basket. Run different bots with varying strategies—some can be based on technical indicators, others on news sentiment analysis. - Watch for Breakouts with Bots: AI bots are excellent for breakout strategies. WTI often trades in ranges, but when it breaks out, the move can be swift and violent. Bots are quick to enter positions—faster than any human could. - Stay Ahead with Economic News: WTI moves with global news. AI bots can monitor these news flows and place trades based on sudden sentiment shifts. Conclusion: The Next Step in Your Forex Journey Integrating AI bots with WTI trading is like playing chess with a grandmaster's assistance—you’ve got a powerful ally that sees multiple moves ahead. The best traders know when to let the bots take over and when to intervene with human insight. StarseedFX offers a community of like-minded traders using cutting-edge tools—like AI bots—to get ahead. If you’re ready to turn crude oil into gold, these are your next steps: explore our free trading courses, grab that smart trading tool, and become part of a community that values innovation, discipline, and humor (because, after all, sometimes we need to laugh at the market's unpredictability). Engage with us in the comments: How do you see AI transforming your WTI trading strategy? Let’s discuss and share insights—maybe you’ll inspire the next big move for another trader. —————– Image Credits: Cover image at the top is AI-generated Read the full article

[claramellor]

WTI Crude Oil Forecast: Market Continues to Rally

WTI Crude Oil Forecast: Market Continues to Rally

The West Texas Intermediate Crude Oil market rallied a bit during the trading session on Friday, as we have now cleared the $57.50 level. This was an area that I thought was going to cause some issues, and now that we have popped through it, even if it was just for a moment, it shows that we continue to see plenty of buying opportunities. We are a little bit overdone at this point, but I think…

[goldsilverreports]

WTI stays above $82.00 ahead of EIA Inventories | Neal Bhai

WTI stays above $82.00 ahead of EIA Inventories | Neal Bhai

WTI holds onto the recent gains near $82.40, up 0.05% intraday, during a quiet Asian session on Wednesday. The oil benchmark cheered the US dollar weakness and upbeat sentiment to ward off the bearish inventory levels published by industry sources the previous day. The latest moves, however, await the official stockpile data for further direction. (more…)

[g86950332]

Weekly Market Insights and Currency Analysis for Traders – Axel Private Market

Welcome to our weekly market update brought to you by Axel Private Market. As we approach the end of another trading week, let's delve into the latest market trends and currency analysis to help you make informed trading decisions.

Market Overview: In the past week, we've witnessed a mix of economic data and geopolitical tensions shaping market sentiment. The US dollar experienced a slowdown following the release of US jobless claims, prompting speculation about potential rate cuts. However, concerns about labor market conditions persist, keeping investors cautious.

US Economy: Recent data showed that the US economy added 175,000 jobs in April, falling short of expectations. Additionally, jobless claims rose, signaling potential challenges in the labor market. Despite this, corporate buybacks surged, buoying equity markets.

Commodities: WTI crude oil and RBOB gasoline closed higher amid escalating geopolitical tensions, particularly in the Middle East. The Hamas-Israel conflict and disruptions to crude oil supplies have contributed to elevated oil prices.

Currency Analysis:

GOLD and SILVER: Both GOLD and SILVER have displayed bullish momentum, supported by strong volume.

DXY: The US dollar has shown weakness, failing to breach key resistance levels. Further downside is expected if specific support levels are breached.

GBPUSD, AUDUSD, NZDUSD, EURUSD, USDJPY, USDCHF, and USDCAD: Each currency pair presents unique dynamics, with technical analysis suggesting potential price movements in the upcoming sessions.

As we look ahead to the next trading week, it's crucial for traders to stay informed and adaptable. Axel Private Market remains committed to providing insights and analysis to guide your trading strategies in today's dynamic market environment.

Stay tuned for more updates and remember to trade wisely.

[forextraderpost]

Markets Week Ahead: S&P 500, US Dollar, Fed, Stimulus, British Pound, Brexit, Gold

This past week ended with the VIX ‘fear gauge’ rising the most since the end of October as global equities experienced a cautious pullback. The S&P 500, DAX 30 and Nikkei 225 aimed lower. Could this be setting a sour tone for financial markets heading into 2021? Treasury yields on the longer-dated spectrum declined, signaling fading optimism on longer-term growth prospects.

Looking at currencies, the growth-linked Australian Dollar still managed to outperform, likely boosted by Chinese demand for iron ore from Down Under. This is as the British Pound declined, experiencing the worst week on average since early September. Sterling’s woes can be traced to dimming prospects of a Brexit deal, as made apparent by UK Prime Minister Boris Johnson.

The US Dollar continues to weaken, and that has been a boon to commodities such as copper and crude oil. Covid vaccine prospects are likely benefiting the latter with anticipation of a steady increase in general travel. Yet, anti-fiat gold prices are struggling to capitalize on greenback declines, signaling underlying weakness despite a parallel drop in US real yields.

After the UK became the first western nation to begin rolling out a coronavirus vaccine, the US was poised to follow after the FDA recommended the approval of Pfizer’s and BioNTech’s product. The anticipation of immunization may have kept US consumer sentiment upbeat this past week, despite ongoing roadblocks to a $900 billion bipartisan fiscal package.

Republicans push for employer liability protections continued to clash with Democrat wishes for state and local government aid. Outside of fiscal affairs, keep a close eye on central banks such as the Fed, BoE and BoJ for their economic outlooks and views on unconventional policy. New Zealand releases third-quarter GDP, Australia reports the latest jobs report. What else is ahead?

Fundamental Forecasts:

Crude Oil Prices May Extend Gains as Investors Eye OPEC JMMC Meeting

Crude oil prices may continue to push higher on the back of positive vaccine news, a pickup in global demand and the moderate easing of OPEC+ output cuts.

Gold Price Boosted by Risk-Off Move, US Dollar May Hinder XAUUSD Rally Next Week

Gold is currently pushing ahead as financial markets take a sharp risk-off turn ahead of the weekend. Next week, the US dollar may weigh on this move.

US Dollar Outlook Hinges on Federal Reserve Interest Rate Decision

The Federal Reserve’s last meeting for 2020 may shake up the near-term outlook for the US Dollar with the bank slated to update the Summary of Economic Projections (SEP).

Dow Jones, Nasdaq 100, DAX 30, FTSE 100 Forecasts for the Week Ahead

The Dow Jones and Nasdaq 100 remain near record levels ahead of next week’s Fed meeting where slight modifications to the current framework are expected. The FTSE 100 will look to Brexit news.

GBP/USD Weekly Forecast: Sterling on High Alert for Sunday Showdown

GBP Implodes, Option Volatility Explodes. No-Deal Brexit Risks Heightened.

Technical Forecasts:

British Pound Forecast: Sterling Slammed – GBP/USD Seeks Support

Dollar was weak but Sterling was even weaker with a massive weekly reversal in GBP/USD off multi-year highs. Here are the levels that matter on the Pound weekly chart.

Nasdaq 100 Bullish Trend Remains Intact Despite Short-Term Pullback

The Nasdaq 100 appears to have entered a brief technical correction after hitting an all-time high. The overall bullish trend remains intact but upward momentum appears to be fading.

Mexican Peso Technical Forecast: USD/MXN Takes a Breather, Path of Least Resistance Still Lower

USD/MXN manages to push above the 20-mark but finds strong resistance at key Fibonacci level

AUD/USD Technical Outlook – Australian Dollar May Experience Setback vs US Dollar

The move higher in Aussie may at the least pause in the coming week as the trend becomes extended; short-term technical structure to wat

Crude Oil Price Outlook: Will WTI Rise into 2021? Technical Signals Mixed

Crude oil prices pushed higher this past week, but conflicting technical signals hint to proceed with caution. What is the technical road ahead for WTI into the end of this year?

Euro Technical Analysis: EUR/USD, EUR/JPY Battle at Big Resistance

The Euro was in the spotlight for Thursday’s ECB rate decision. But both EUR/USD and EUR/JPY put in Dojis for the week after running into big areas of resistance.

Weekly US Dollar Technical Forecast: DXY Index Bears Down Major Technical Damage

The DXY Index has sustained major technical damage in recent weeks, having broken through the rising trendline from the April 2011 and February 2018 lows.

Gold Technical Forecast: XAU/USD Approaches Key Chart Levels

Gold ended the week nearly unchanged after bulls failed to break through descending channel resistance. Now, XAU/USD finds itself between two key levels as longer-term technicals move into focus.

US DOLLAR WEEKLY PERFORMANCE AGAINST CURRENCIES AND GOLD

The post Markets Week Ahead: S&P 500, US Dollar, Fed, Stimulus, British Pound, Brexit, Gold appeared first on Forex Trader Post.

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US Dollar, DXY Index, USD, Treasury Yields, Debt Ceiling, Crude Oil — Talking Points

The US Dollar might get a jolt this week on a debt debacle resolution

Treasury yields remain robust and equity markets have been given a small boost

If the need for a haven currency diminishes, where will that leave USD?

The US Dollar is steady at the start of the week as markets digest the possibility of a debt ceiling deal being passed by Congress this week.

Over the weekend, US President Joe Biden and House Speaker Kevin McCarthy both said that the two of them have come to an agreement and it will be voted on in the next few days.

Both sides appear to have compromised in order to avoid a default for the US. Treasury has said that they could run out of cash by June 5th if the ceiling wasn’t lifted in time.

Written by Daniel McCarthy, Strategist for Daily-FX

The resolution of the debt ceiling issue might be seen as negative for the US Dollar due to perceptions that it had been bought as a haven asset. However, Treasury yields have also been heading north with the 1-year bond touched 5.30% on Friday, almost 130 basis points up from its March low.

Wall Street futures are pointing slightly higher after the main indices posted stellar gains on Friday after some encouraging economic data. Most notably, durable goods orders, personal spending and consumer sentiment all beat estimates. The full breakdown can be found here.

APAC equities have been mixed but are mostly in the green and crude oil has recovered today after tumbling to close out last week. The WTI futures contract is back over US$ 73 bbl while the Brent contract is near US$ 77.50 bbl. Gold is struggling to start the week, trading near the 2-month low under US$ 1,950.

It might be a quiet trading day ahead with the UK, Switzerland and the US on holiday today.

The full economic calendar can be viewed here.

DXY (USD) INDEX TECHNICAL ANALYSIS

The DXY index appears to have created a Doji candlestick on Friday, which may indicate market indecision about direction.

Since breaking above a descending trend line, the price has been on a bullish run to mark an 11-week high. Resistance might be at the 76.4% Fibonacci Retracement at 104.79.

Chart created in TradingView