Author: FX
WTI crude oil daily chartOil will be an interesting spot to watch as it fights for a sixth straight week of gains. It’s currently trading at $83.69, which is up 80 cents but more importantly is above the April high of $83.53. A close above that level The driver at the moment appears to be products. Gasoline and diesel inventories are tight, in part because of Russian sanctions. US gasoline futures rose 2.4% today and at the highs would be at the highest level since last October.Here is a great chart from HFI Research showing US gasoline storage.US gasoline storageThis…
Share: Mullen Automotive initiated a 1-for-9 reverse split that begins trading at new post-split price on August 11. MULN share price closed at $0.1130 on Thursday but opens Friday at post-split price. Mullen stock needs to remain above $1 for at least 10 consecutive trading sessions to remain in compliance with NASDAQ exchange rules. Mullen has begun manufacturing class 3 commercial EVs in Mississippi. Mullen Automotive (MULN) stock plunged 8.6% at Friday’s open after debuting its new reverse split-adjusted share price. MULN needs to trade above the $1 price tag for 10 consecutive sessions in order to keep its listing…
Nvidia stock (NVDA) is leading a slump in the Nasdaq and has helped to push the index to the lows of the day.The high-flying chipmaker is among the most highly valued stocks in the world, and certainly the highest-valued big-cap tech company. It’s trading near 40x trailing sales and has been a major beneficiary of the AI boom.Lately though, the hype around AI is fading and Nvidia may also be facing headwinds from US efforts to ban chip sales to China.Earlier in the week, I highlighted a brewing breakdown and the potential for the shares to fall to $400. They’re…
DouYu International Q2 2023 Earnings Preview Source link
In a mostly quiet volatility week, our strategy discussions arguably went well, including strong bullish moves in USD/JPY and GBP/NZD. Let’s do a quick review and see how the strategies played out! USD/JPY 2-Hour Forex Chart by TV On Monday, our strategists pulled up on USD/JPY, wondering if the fresh decline in the pair was an opportunity for FX trend traders to jump in the longer-term uptrend at better prices. We discussed how the dip was likely influenced by the weaker-than-expected U.S. jobs update, but there was a possibility that fundie traders may continue to price in intervention-like moves from…
© Reuters. West African leaders gather for Economic Community of West African States (ECOWAS) Head of States and Government meeting in Abuja, Nigeria August 10, 2023. REUTERS/Abraham Achirga By Boureima Balima and Felix Onuah NIAMEY (Reuters) -West African army chiefs will meet in the coming days to prepare plans for a possible military intervention in Niger, a spokesperson for the regional bloc said on Friday, as concern grew over the detention conditions of ousted President Mohamed Bazoum. The ECOWAS bloc ordered the activation of a standby force on Thursday, two weeks after generals ousted Bazoum in the seventh coup in…
Oil (WTI, Brent Crude) AnalysisOPEC’s demand forecast suggests tight oil market into year endBrent crude oil pulls back from resistance as bullish momentum subsidesWTI crude oil tests trendline support on latest dipThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library Recommended by Richard Snow Get Your Free Top Trading Opportunities Forecast OPEC’s Demand Forecasts Suggest Tight Oil Market into Year EndYesterday OPEC released its monthly report where it revised global GDP growth for 2023 and 2024 to 2.7% and 2.6%, up 0.1% respectively from last…
In recent years, the global financial landscape has witnessed an unprecedented convergence of traditional forex trading and the burgeoning world of cryptocurrencies, with Bitcoin taking the lead. As a result, the role of a Bitcoin wallet has become increasingly essential in facilitating seamless and secure trading experiences for investors and traders alike. In this article, we explore the vital link between Bitcoin wallets and forex trading, emphasizing the transformative potential they hold and the advantages they offer.The Rise of Bitcoin WalletsBitcoin, the pioneering digital currency, has emerged as a decentralized and highly sought-after asset. Its decentralized nature, transparency, and the…
Trading psychology books and blogs often talk about the need to “remove” emotions from decisions to get more consistent trading results. But can you really remove emotions from decision making? University of Bergen’s Hans-Rüdiger Pfister and Gisela Böhm argue that emotions are NOT external forces that disrupt an otherwise non-emotional process of making a decision. In fact, they believe that decision making without emotional involvement is not optimal and maybe even impossible because emotions aid in four key functions in decision making: 1. Preference construction Any decision requires information and a trader’s emotional state about a decision’s possible consequences can…
Share: Economists at Société Générale analyze GBP/USD technical outlook. Support 1.2590, resistance 1.2820 GBP/USD has pulled back towards the trend line drawn since last November and is near intermittent support of 1.2590 representing the low of June. Interestingly, it has formed a Head and Shoulders pattern which generally points towards potential downside. If the pair fails to defend the neckline at 1.2590, there could be risk of a deeper down move towards 1.2480, the 23.6% retracement from last year and 1.2300. Left shoulder at 1.2820/1.2870 must be overcome for negating the pattern. Source link