Author: FX
As we continue to explore the financial landscape of 2023, the spotlight remains firmly on the S&P 500. In this condensed follow-up to our previous analysis, we’ll take a unique approach to predicting this market’s trajectory, focusing specifically on the 4400 key level.Revisiting Our Previous ForecastIn our earlier article, we delved into an eye-opening forecast for the stock market in 2023, utilizing the powerful tools of yearly candles and volume profile. We identified significant levels of support and resistance and assessed the distribution of trading activity over time.This approach allows us to discern pivotal price levels that could influence the…
© Reuters. Investing.com – By the time you read this, OPEC would have probably decided, even announced, new production levels meant to seize pricing of oil back from the hands of short-sellers who’ve driven the group nuts this year in trying to keep a barrel at $80 or more. Oil revenue is the lifeblood of the economies in OPEC, or the Organization of the Petroleum Exporting Countries, a 13-member Saudi-led group whose main objective is to be the price-setter of the commodity. Ten other oil-producing states, including Russia, that aren’t OPEC members also keep their output closely in line with…
Warning: LNSTY is at high risk of cutting its dividend Source link
BRENT CRUDE OIL ANALYSIS & TALKING POINTSRussia finding it tough to cut production the rest of OPEC+ seeks higher prices.Light economic week ahead gives places more emphasis on OPEC+.Weekly Brent crude chart may point to higher prices. Recommended by Warren Venketas Get Your Free Oil Forecast BRENT CRUDE OIL FUNDAMENTAL BACKDROPFor crude oil prices (WTI and Brent), the OPEC+ meeting on June 4th, 2023 will be a critical juncture for oil markets. Of recent, friction between two of the most influential nation within the cartel, Russia and Saudi Arabia; have been growing. The problem stems from OPEC+’s pledge to limit…
2/2 © Reuters. People try to escape from toppled compartments, following the deadly collision of two trains, in Balasore, India June 2, 2023, in this screen grab obtained from a video. ANI/Reuters TV via REUTERS 2/2 By Jatindra and Abinaya V BAHANAGA, India (Reuters) – At least 288 people have died in India’s worst rail crash in over two decades, officials said on Saturday, after a passenger train went off the tracks and hit another one in an accident a preliminary report blamed on signal failure. One train in Friday’s accident also hit a freight train parked nearby in the…
imaginima/iStock via Getty Images Oil and gas companies, as well as wind and solar developers, say language in the debt ceiling bill intended to speed up the federal permitting process for large infrastructure projects does not go far enough but could be a precursor for more sweeping legislation. The reforms in the bill include revisions to the National Environmental Policy Act of 1970 which limit the environmental permitting process to two years, and require projects to name a single lead agency that would develop one master environmental review document. The bill also orders a study of U.S. grid capacity to…
Lawmakers with the United States House Financial Services Committee and House Agriculture Committee have released a draft discussion offering certain crypto assets a pathway to being labeled digital commodities. According to a discussion draft published on June 2, lawmakers proposed “establishing a functional framework” aimed at providing regulatory clarity for crypto firms in the United States. The draft bill would prohibit the U.S. Securities and Exchange Commission (SEC) from denying digital asset trading platforms from registering as a regulated alternative trading system and allow such firms to offer “digital commodities and payment stablecoins.” Continue Reading on Coin Telegraph Source link
Mallinckrodt to consider filing for bankruptcy again – WSJ Source link
GOLD PRICE OUTLOOK:Gold prices fail to mount recovery as bond yields resume their reboundStrong U.S. economic data may nudge the Fed to continue hiking rates during the second half of the year, even if policymakers hit the pause button temporarilyThis article looks at key XAU/USD’s levels to watch in the week ahead Recommended by Diego Colman Get Your Free Gold Forecast Most Read: Gold Price Recovery Runs Out of Steam as Red-Hot US Jobs Data Boosts YieldsGold prices (XAU/USD) have undergone a large downward correction from its May highs around $2,070, down nearly 6% from those peak levels in a…
U.S. real estate investors drew back on home purchases in Q1 by 48.6%, real estate brokerage Redfin (NASDAQ:RDFN) reported this past week, marking the biggest year-over-year drop since 2000. The slump, which outpaced the 40.7% decline in overall home purchases in the 40 metro areas tracked by Redfin, comes as it’s become harder for investors to reap profits given elevated interest rates along with slowing rent growth and declining home prices. Another reason for the dramatic annual decline is investor home purchases in Q1 2022 were near record highs. On a Q/Q basis, investor purchases fell 15.9% compared with the…