Despite the successful vaccination process in the U.S., the underlying recovery is still uneven. The impact of the pandemic continues to be sporadic and bumpy across different sectors of the economy. The impact of this spillover is likely to be underpinned by the Services PMI data, scheduled for publication later today. [...]

Demand for the commodity looks poised to depreciate in the medium term as the impact of market seasonality starts to play a bigger role in the underlying supply and demand dynamics. That is so because global economic activity tends to fall over the latter portion of the second quarter, which consequently eases said demand. [...]

The price of gold quite expectedly reached the 1780.00 swing peak recently, which had previously served the role of a major swing low. Hence, its function as a prominent make-it-or-break-it turning point has been established. Because of that, the timing seems perfect for the development of a new bearish correction. [...]

The price of WTI continues to trade around the psychologically significant resistance level at 60.00 in anticipation of another directional movement. Following the completion of a massive bullish uptrend recently, the commodity's price has begun to consolidate as bearish pressure ramps up. This can potentially be perceived as the early stage in the development of a new downtrend, provided that the bears manage [...]

The price of gold recently rebounded from the 61.8 per cent Fibonacci retracement level at 1690.36 and has been consolidating above it since the middle of March. This is significant news for a number of reasons. Firstly, the 61.8 per cent benchmark represents the final Fibonacci threshold in a sequence (it follows the 23.6 and the 38.2 per cent marks), which means that the price action currently finds itself [...]

The underlying supply and demand equilibrium in the energy market is currently changing. Demand is falling as the global economic recovery is presently undergoing through a soft patch owing to a number of contributing factors. This is prompting the beginning of a new bearish correction on the price of crude oil. [...]

The price of gold reached a new low yesterday, temporarily probing below the 61.8 per cent Fibonacci retracement level at 1690 before retracing back up. While this behaviour undoubtedly demonstrates the strength of the underlying downtrend, there are also many reasons to anticipate a reality check for the retreating commodity around the current market price. [...]

Crude oil opened this week's trading session by nearing a price tag of 68.00 dollars per barrel before retracing back to 66.30. The jump was caused by fears of escalating tensions in the gulf, underpinned by the raging war between Saudi Arabia and the Iran-backed Houthi rebels. The Saudi Energy Ministry reported that a drone strike targeted an oil storage tank on Sunday, stirring temporary panic over potential [...]

The precious commodity finds itself in a solid bearish market at present, which is owing to the heightened demand for riskier assets amongst global investors. The latter stems from the fact that U.S. yields remain at historically low levels due to FED's massively accommodative monetary policy stance. The high energy prices currently represent another contributing factor. [...]

Temperatures dropped drastically last week across the U.S. and Western Europe, prompting a marked upsurge in energy demand. Record lows were reached in many states as the coldest weather in over 30 years continues to grip the U.S, with more than 150 million people remaining under a weather alert. The severe temperatures have caused a sudden jump in energy consumption across the most affected states, causing [...]