简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
GemForex | Crude Oil (WTI)
Abstract：Crude Oil (WTI) - Rebound in the offing?
WTI: The $100 mark should hold the downside
Prices of the WTI retreated sharply and revisited the $101.00 region on Wednesday. The strong downtick was due to shrinking open interest in the futures market, giving the hint that a deeper pullback is not favored in the near term.
The further downside in prices of the commodity should meet tough support around the $100.00 area.
That said, the black gold is on the downtrend for the second consecutive day, down 1.0% around $102.90, amid early European morning on Thursday.Aclear downside break signal of the three-month-old support line, near $101.00 by the press time, appears necessary for the bears.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Read more
GEMFOREX - weekly analysis
The week ahead: Top 5 things to watch
Oil inches higher as OPEC meetings continue
A stronger than expected payroll report last Friday pushed equity markets to another all-time high. The U.S. economy added 850,000 new jobs during June when the consensus expected 700,000. Whilst the headline number looks good, there’s plenty to be worried about under the hood, as the new jobs are mostly in those sectors of the economy that have reopened. For instance, the leisure and hospitality sectors added 343,000 new jobs, education around 269,000, and the retail sector 67,000. These add up to around 80% of the total; this is great at first glance but not in the long run since these sectors do not drive the productivity or wage growth required for sustainable expansion. In particular, the U.S. economy is 70% consumer driven, which emphasizes the importance of a healthy and wealthy labor market. With the country still 7 million jobs short of pre-pandemic levels and most of the recovery happening in low-paying and low-productivity sectors, there is still a long way to go before the
Oil Countdown: With 48 Hours To OPEC Meeting, Where Are Prices Headed?
It’s the answer every oil trader is seeking, yet will likely get with only a certain degree of accuracy. With about two days left until the all-important ministerial meeting of OPEC+, few things are more crucial than figuring out where oil will be trading before the world alliance of oil producers lays down its policy decisions for December. Dozens of ideas abound on crude prices over the next 48 hours, with as many theories on why they should be so
Oil and euro slip, markets on edge over COVID-19 curbs in Europe
Asian stocks made a soft start to the week on Monday while oil and the euro were under pressure, as the return of COVID-19 restrictions in Europe and talk about hastened tapering from the U.S. Federal Reserve put investors on guard.
WikiFX Broker
Latest News
CFI Partners with MI Cape Town, Cricket Team
WikiFXDoo Financial Expands Reach with Indonesian Regulatory Licenses
WikiFXVolkswagen agrees deal to avoid Germany plant closures
WikiFXGeopolitical Events: What They Are & Their Impact?
WikiFXWebull Canada Expands Options Trading to TFSAs and RRSPs
WikiFXCySEC Launches Redesigned Website Packed with New Features
WikiFXWikiFX Review: Is PU Prime a decent broker?
WikiFXTradingView Launches Liquidity Analysis Tool DEX Screener
WikiFXMultiBank Group Wins Big at Traders Fair Hong Kong 2024
WikiFXWikiEXPO Global Expert Interview: Simone Martin—— Exploring Financial Regulation Change
WikiFXCurrency Calculator
