commodities

Oil prices are on track to post a third consecutive daily gain. Price action has breached past the $50.00 level on 6 Jan. However, the current pace of gains tests the trendline from below. This could mean that price action could make a…
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The precious metal once again failed to breakout above the key 1950 level of resistance. Following the failure, gold prices lost close to 2.30% intraday. The declines push gold prices back to the key support level near the 1900 - 1911…
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WTI crude oil touched $50.00 a barrel on Wednesday in the early Asian session. The gains came after the OPEC+ meeting saw Saudi Arabia cutting oil output by one million barrels per day. The rise to $50.00 marks the first time testing…
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The gains in the precious metal saw price rising to the 1950 level. This marks the second retest of this level since November 2020. Previously, prices fell back right after testing this level. At the moment, the Stochastics oscillator is…
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Oil prices are bullish on Tuesday, rising over 5% intraday. The gains come on the second day of the OPEC+ meeting. Saudi Arabia, alongside other countries, opposed Russia's proposal of raising production. The current gains in oil prices…
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Gold prices popped higher as the US dollar continued to extend declines. The pace of gains in the precious metal was however bigger, rising almost 2% intraday. The gains come amid a mixed set of narratives, including the Georgia senate…
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Oil prices rose to multi-month highs on Monday in anticipation of the OPEC+ meeting. Furthermore, tensions in the Middle East also added to the bullish fundamentals. Prices rose to highs of 48.97 before giving back the gains. For the…
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Gold was seen consolidating near the 1900 level. Price action previously tested this level before pulling back recently. In the process, we have a potential ascending triangle pattern emerging. If the 1900 level of resistance breaks,…
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Oil prices are trading flat ever since prices touched intraday highs of 49.29 on December 21. Since then, oil prices pulled back and are trading in a sideways range. For the moment, this sideways range is likely to continue. However,…
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The precious metal is trading somewhat bullish, building upon the gains from Tuesday. Price action is on track to close with gains for two consecutive days. However, the pace of gains remains subdued for the most part this week. For…
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