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Calmer Crude Markets Following heavy volatility at the start of the week, crude oil prices action has calmed down sharply through the week. Crude futures are now hovering around the level of last week’s closing price, reversing the initial gains seen on Monday as traders reacted to news of Saudi Arabia unveiling a fresh set […]
TitleGBPUSD H4 | React off 78.6% TypeBullish Breakout Preference: The price is rallying towards our pivot point of 1.25044, which aligns with a 78.6% Fibonacci retracement. If there is a reversal from this level, the price could fall to the first support at 1.24172. Alternative scenario:However, if the price breaks the pivot, it could reach […]
Bitcoin has tested the support at the level of 25000 and formed a beautiful bullish engulfing. Currently, the asset’s price is testing the middle point of the engulfing. Hence, Bitcoin might potentially jump. So, let’s observe what might happen. Oil rebounded from the supporting level of 71.50, forming a pattern resembling a triangle. The asset’s […]
The British pound sterling is up again against the US dollar. The current GBPUSD quote is 1.2454. While the US dollar has retreated locally, the pound is trying to rise higher. According to the report of the Organization for Economic Cooperation and Development (OECD), the UK expects the highest inflation among the G7 countries in 2023. Thus, […]
Daily Market Outlook, June 08, 2023 Munnelly’s Market Commentary… Asian equity markets had a mostly subdued performance overnight, influenced by mixed signals from Wall Street. The technology sector underperformed as global yields rose following a surprising rate hike by the Bank of Canada. Following the unexpected move by the Reserve Bank of Australia earlier this […]
Fed Lift Shares in Tesla are trading at fresh highs for the year this week after breaking out yesterday. Pre-market, the stock is sitting a few points higher suggesting further gains to come as we head through the middle of the week. The stock has seen a strong boost in recent weeks as market expectations […]