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Showing posts with label comex. Show all posts
Showing posts with label comex. Show all posts

Tuesday 5 January 2016

During the overlap with the London session we expect an important inflation

New York Session

During the overlap with the London session we expect an important inflation-related release from Germany and more PMI from the USA:
  1. German CPI (MoM) (Dec) | Germany
  2. Manufacturing PMI (Dec) | United States
  3. ISM Manufacturing Employment (Dec) | United States
  4. ISM Manufacturing PMI (Dec) | United States

‪#‎Crude_Oil‬ Tuesday :The week’s first oil-related macroeconomic release is:
‪#‎API‬ Weekly ‪#‎Crude_Oil_Stock‬
The American Petroleum Institute (API) reports inventory levels of US crude oil, gasoline and distillates stocks on a weekly basis. The figure shows how much oil and product is available in storage.The API Weekly Crude Oil Stock indicator gives an overview of US petroleum demand. Higher stock implies weaker demand or oversupply and it is bearish for crude prices, while lower stock implies higher demand and it is bullish for oil prices. While it is nearly impossible to predict the actual reading of the release, the event can be used for the timing component of a trading strategy for the instrument.
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Wednesday 16 December 2015

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Wednesday 9 December 2015

Crude oil price provided more bearish bias yesterday to record new bottom level that reached $36.62 level.


Comex Market Updates : Crude oil price provided more bearish bias yesterday to record new bottom level that reached $36.62 level.


Technical - Levels






Crude oil price provided more bearish bias yesterday to record new bottom level that reached $36.62 level. The fact that market broke down below there indicate that market are continue going to lower. We will keep our main bearish trend expectation, supported by the negative pressure that comes from EMA50. Momentum of MACD (moving average convergence divergence) still generating a sell signal. On its 4 hourly chart, Resistance is seen near the SMA20 at $39.00, while support is seen near the at $35 level. Fundamentally oil market oversupplied, reluctance by the OPEC nations to cut its oil output, rising inventories in the US, warmer than normal weather in the US will result in lower demand for crude and its variants. Hence, oil prices will trade lower in today’s session. 
                                           
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