The price of the commodity appears to be consolidating near the bottom portion of a recent correction before the broader uptrend can be continued. Even though this represents a preliminary stage in the establishment of an eventual uptrend, bulls should not rush to join the market at all costs. Presently, all eyes are focused on the earnings season in the U.S. The robust performance by Big Tech, especially [...]

The price of crude oil has been depreciating over the past few weeks as global energy demand subsided a little bit. This process was bolstered following the last FED meeting. Even though the current underlying sentiment is prevailingly bearish, it is unlikely for crude oil to develop a major bearish trend. Instead, the price of the commodity is likely to consolidate around the next Fibonacci support [...]

The price of gold has been consolidating over the past few weeks after having established a major bearish dropdown. This interim consolidation now seems to imply that the correction has already bottomed out, which, if true, would mean that bulls can once again trade on the expectations for the continuation of the broader uptrend. These expectations for sustained price appreciation are rooted in the fact [...]

The price of crude oil has been advancing in a very strong uptrend over the past couple of weeks. The rally was influenced by robust energy demand globally as economies continue to reopen and economic activity picks up. This pick-up in aggregate activity continues to be dependent on the vaccine rollout and future progression of the pandemic. [...]

The price of gold has been depreciating over the last couple of weeks after having reached a psychological barrier. The downturn was catalysed by mixed labour data in the U.S. and growing energy demand globally. The correction is momentarily halted by increased bullish momentum in the short term. The latter is owing to relaxed inflation fears among traders and investors, ahead of the highly anticipated [...]

The energy market has benefited greatly by heightened demand amidst accelerating global recovery. This has prompted a massive bullish rally on the price of crude oil, which reached the psychologically significant resistance level at 70.00. Nevertheless, the latter represents a prominent turning point, which is why the emergence of a new bearish correction from it in the short term seems highly plausible. [...]

The price of Gold is headed towards a multi-month high as demand ramps up in the short term. Traders and investors are sizing up the impact of inflation growth on the pace of U.S. recovery, which is already being reflected in the commodities market. All eyes are currently focused on the upcoming non-farm payrolls data, which is likely to bolster these inflation pressures. In particular, a potentially robust [...]

The price of crude oil has finally started falling from the recent high, which was expected to happen for quite a while now. The commodity rallied in the first quarter, driven by heightened demand as the global economy continues to recuperate, but this bullish sentiment finally looks ready for a respite. [...]

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. [...]