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 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. [...]
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 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 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. [...]
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 [...]
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 [...]
The price action of Ethereum is currently attempting to strengthen above the psychologically significant threshold at 2500.00, in what can be considered as an early bullish signal. The cryptocurrency collapsed last week following the sudden Russian invasion of Ukraine, as traders and investors dumped high-risk assets in the search for lower-risk securities. Despite these tribulations, however, Ethereum was [...]
Crude oil, being the energy market benchmark, is being affected quite substantially by the ongoing tensions between Russia and Ukraine. The prospect of war could disrupt the global supply chains of crude oil as Russia is one of the biggest exporters of the commodity, as well as the most significant member of OPEC+, which is what is prompting the heightened demand for the commodity. [...]
As was forecasted by our last analysis of gold, the price action reached the previous swing peak at 1915.00. This is where a major bearish reversal is likely to take place, given the confluence of mounting bearish signals. That is why the underlying setup seems favourable to bears looking to implement contrarian trading strategies. Bulls, in contrast, could potentially seek to enter long on the next dip as [...]
The price action of Bitcoin is once again tanking as bearish bias is ramping up. This is being prompted by several contributing factors, the main one amongst which is increasing overall uncertainty. Markets are shuddering from the looming prospects of a Russian invasion of Ukraine, which stymies investors ' demand for higher-risk assets. [...]
The price action of the EURUSD is currently consolidating near the dip of the previous downtrend as bullish pressure is once again accumulating. This may represent a very early stage in the development of a new uptrend, which may allow bulls the opportunity to utilise contrarian trading strategies on the expectations for such a trend reversal. [...]
The price action of the Nasdaq composite bounced back up from a recent dip, giving investors a glimmer of hope that the correction may finally be over. While this pullback does not necessarily signify a complete bullish reversal, the underlying setup may be favourable for the implementation of trend-continuation strategies by bulls seeking to join the market before the price action re-enters into uncharted [...]
The price action of one of the most popular cryptocurrencies in the world continues to behave exactly as per the expectations of the Elliott Wave theory, twisting and turning in a manner that is demonstrative of its fractality and scalability. What that means is that each subsequent wave represents a proportionate leg - whether impulse or retracement - of a broader structure, transcending across multiple [...]
The price of the commodity broke out above $90 per barrel last week, which represents the last major threshold before the psychological barrier at $100. This poses the question of whether soaring inflation and the tumultuous geopolitical landscape worldwide would drive the price higher, or whether it is time for a long-overdue correction? [...]
The price action of gold looks poised to climb higher in the near term after the commodity was able to recover from last week's upsurge in adverse volatility, which was prompted by the top-tier economic releases towards the end of the week. Therefore, bulls have a chance to enter at a discount by implementing trend-continuation strategies.
The price action attempted to break lower following the publication [...]
The price action of Bitcoin looks poised to continue sinking lower in the coming weeks as the underlying bearish pressure keeps on mounting. This is exemplified by the recent upsurge in selling volume, which led to the completion of the bullish pullback. That is why bears could seek to implement trend-continuation trading strategies on the current set-up. [...]
Following the latest economic developments globally, significant bearish sentiment is currently being observed on the EURUSD pair. This drastic change in the underlying supply and demand equilibrium is likely to drive the price action even lower in the foreseeable future.
Most importantly, FED's recent hint at a very probable rate hike as early as March strengthened the dollar. This decision was motivated [...]
The price action of the second most popular cryptocurrency in the world is currently behaving as per the expectations of the Elliott Wave Cycle Theory, amidst the general selloff in the market. This behaviour elucidates the possibility for the implementation of trend-continuation trading strategies. Namely, bulls and bears alike may try to pick tops and bottoms as the Elliott cycle continues to evolve. [...]
The price action of crude oil is long overdue for a bearish correction, though geopolitical tensions are so far preventing it from happening. The escalating tensions near the Donbas border-region of Ukraine are high as Russia keeps on increasing its military presence on its own side of the border. The global energy market has thus been gripped for quite a while by the prospect of a Russian invasion. [...]
Gold's price action has been consolidating in a broad range for over half a year now, which is a confirmation of the very strong range-trading conditions that prevail at present. Under those conditions, bulls and bears may implement the highly effective strategy of picking the underlying range's tops and bottoms. And given that the price action is currently drawing near one of the range's extremes, bears may [...]
The most popular cryptocurrency in the world has been massively undervalued since late 2021 owing to a number of contributing factors. But upon closer examination, the price action appears to be establishing a massive Head and Shoulders pattern which, if realised, would entail the development of an even bigger downtrend in the long run. Nevertheless, this may also entail bulls with an opportunity to go long [...]
Following a prolonged consolidation within the boundaries of a narrow range, the price action of the EURUSD is finally attempting a major breakout. If proved successful, this could entail the beginning of a new massive uptrend.
Both currencies are affected by soaring inflation, with consumer prices in the U.S. topping a four-decade peak and headline inflation in the Eurozone reaching an all-time high. [...]
The rally of the Nasdaq reached a climax in late November, and ever since then, the price action of the index has been on the retreat. Currently, a minor bullish pullback appears to be developing, which would allow bears to utilise trend continuation trading strategies; chiefly, they would be able to sell the next peak in anticipation of continued price depreciation afterwards. [...]
The price of Ethereum plummeted sharply earlier today following a sweeping selloff in the crypto market. Over the last couple of days, Bitcoin , the benchmark cryptocurrency, fell by over 6 per cent.
There are multiple factors contributing to the selloff, with the most significant one being the temporary strengthening of the dollar. The greenback is currently advancing ahead of the release of the December [...]
Earlier today, the price of the commodity rallied on the latest tribulations in the global geopolitical sphere. The escalation of tensions in Kazakhstan unnerved markets, which were already worried by the prospects of a potential Russian invasion of Ukraine. This caused an upsurge in demand for energy, thereby causing oil to rise.
Nevertheless, the price action is currently probing a major resistance level [...]
The price action of Bitcoin, similarly to other prominent assets, has been consolidating around the Holidays owing to diminished trading activity. The cryptocurrency fell from the November peak and is currently threading just below the psychologically significant threshold at $50000.00.
The majority of cryptocurrency enthusiasts expect the crypto flagship to resume appreciating shorty as trading activity [...]