WTI broke daily Triangle Likely to rise to resistance level 70.90 WTI crude oil today broke the resistance trendline of the daily Triangle from the end of October, inside which the price has been moving from October. The breakout of this Triangle continues the active short-term impulse wave (iii) of the higher order impulse wave […]

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Last week was chaotic. The Federal Reserve’s (Fed) hawkish 25bp cut, the hint from the dot plot that there would be only two rate cuts next year instead of four – because the US economy is too strong to continue the cuts as previously predicted – and the US debt limit shenanigans even before Trump […]

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Gold price started a fresh decline below $2,665. Crude oil prices are now struggling to clear the $70.00 and $70.50 resistance levels. Important Takeaways for Gold and Oil Prices Analysis Today Gold price climbed higher toward the $2,665 zone before there was a sharp decline against the US Dollar. A key bearish trend line is […]

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WTI Oil continues to trade sideways, but bias is bearish Price remains constrained between key resistance and support levels WTI Oil (Cash) is headed for a fifth straight day of declines, slipping below 69.00 and widening the gap with the Ichimoku cloud. The technical indicators are bearish, but to a varying extent. The stochastic oscillator […]

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Europe appears to be coming apart one nation at a time’, writes Bloomberg to summarize the complicated politics of the old continent. After the French snap election led to a divided government and an ungovernable France since summer, German politicians gave a no-confidence verdict for the three-way ruling party of Germany, paving the way for […]

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Sentiment in Chinese equities reversed suddenly to a significantly more bullish state after the Politburo – which is the highest-decision making bodies within the Communist Party – pledged to embrace a ‘moderately loose’ monetary policy in 2025. This is a meaningful dovish shift from the ‘prudent’ stance of the past 14 years, hinting that further […]

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Key Highlights WTI Crude Oil prices are struggling to recover above the $70.00 resistance zone. A connecting bearish trend line is forming with resistance at $69.75 on the 4-hour chart. Gold prices could advance if there is a clear move above $2,700. EUR/USD must surpass 1.0700 to gain bullish momentum. WTI Crude Oil Price Technical […]

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Gold price is consolidating above the $2,600 support zone. Crude oil is showing bearish signs and might decline below $66.80. Important Takeaways for Gold and Oil Prices Analysis Today Gold price started a recovery wave from the $2,610 zone against the US Dollar. A key bearish trend line is forming with resistance at $2,650 on […]

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WTI crude oil broke support zone Likely to fall to support levels 66.6 and 66.00 WTI crude oil today broke the support zone lying at the intersection of the support level 67.60 and the support trendline of the daily Triangle from September. The breakout of this support zone should add to the bearish pressure on […]

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In focus today The main data event will be the US Jobs Report for November. We expect Nonfarm Payrolls growth to recover to 160k (cons: 200k, prior: 12k) after temporary weather-related effects have reversed. We anticipate average hourly earnings growth moderated to +0.2% m/m SA and unemployment rate remaining steady at 4.1%. Preliminary results from […]

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Markets Very few market-moving data in the US and EMU today. US markets are counting down to tomorrow’s US payrolls. This report, together with the US November CPI data (to be released on Dec 11), will provide concluding data evidence for the Dec 18 Fed policy meeting. US markets still only discount about 75% of […]

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There are rare moments when the market’s reaction to news leaves me baffled. And today – this week – is one of them. The French government just collapsed, and the composition of the government suggests that whoever replaces Micel Barnier will face the same problems than he did, in a France that became ungovernable. But […]

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WTI crude oil meets 70.00 level Remains in trading range in short-term Broader outlook is still bearish WTI crude oil prices have seen a notable bullish reaction during yesterday’s session, almost testing the medium-term descending trend line near 70.40. The commodity has battled several times with the diagonal line over the last month, but it is […]

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South Korea briefly stole the light from the French political chaos after President Yoon suddenly imposed the martial law yesterday accusing the opposition party – which holds the majority in the parliament – of paralysing his administration, only to lift it a few hours later. The Korean won and the stocks fell, and the volatility […]

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France has stepped into the crisis mode after a series of events – that included budget concessions to make Le Pen happy – ended with Le Pen not being happy. Consequently, Barnier used a constitutional tool to push his unpopular budget bill without a parliamentary vote and Le Pen said that she would take his […]

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Fundamental Analysis WTI crude oil prices have started to recover, trading at $68.90 amidst rising tensions ahead of the key OPEC+ meeting on Thursday. A critical article by a senior Iranian official has highlighted that the group’s production cut policies have kept prices elevated for too long, incentivizing cheaper oil production outside the cartel, particularly […]

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WTI oil price rose over 1% on Monday after better than expected China’s manufacturing data boosted positive sentiment, while fresh concerns about the Middle East ceasefire collapse, add support. Fresh gains peaked above $69.00 mark but were so far unable to hold gains, as Friday’s bearish candle with long upper shadow, points to solid offers. […]

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December doesn’t arrive with chocolate and flowers to Europe. First, Stellantis CEO resigns on weaker sales and tumbling profits. Second, VW workers are expected to walk out as early as today, because their labour leaders couldn’t reach an agreement on how to reduce costs to prevent factory closures. Sadly for VW, the worker walkouts may […]

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The chip makers around the world felt the relief of a rumour suggesting that the sales curb to China could be less severe than previously expected. But the news didn’t necessarily translated in a strong rally. ASML – Europe’s biggest chip equipment maker that predicted a 30% fall to its Chinese revenue next year – […]

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Headlines on Thursday revealed that Israel may have violated the recent Gaza ceasefire just one day after it began, with reports of tactical military actions targeting areas not included in the agreement. Meanwhile, OPEC+ postponed its output policy meeting from Sunday to December 5, citing scheduling conflicts with Kuwait’s Gulf Cooperation Council meeting. Crude oil […]

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