Energy pack is mixed in today’s trading. Weekly performance at a glance in chart & table, Oil (WTI) – Oil price is struggling as OPEC+ announced 1.2 million barrels of supply reduction and as hedge funds are still reduci…
Energy pack is mixed in today’s trading. Weekly performance at a glance in chart & table,
Oil (WTI) –
Oil price is struggling as OPEC+ announced 1.2 million barrels of supply reduction and as hedge funds are still reducing positions. The price has broken into new post-deal low. Today’s range - $49.6- $47.5
WTI is currently trading at $47.6/barrel. Immediate support lies at $45 area and resistance at $55 area.
Oil (Brent) –
Brent remains elevated over WTI due to higher demand, geopolitical tension and OPEC agreement. Today’s range - $59.3-57.2
Brent is trading at $10 per barrel premium to WTI.
Brent is trading at $57.6/barrel. Immediate support lies at $57 area and resistance at $63 region.
Natural Gas –
The natural gas price is declining sharply as extreme weather fades and as the technical triangle breaks. Today’s range $3.56 -$3.80
Natural Gas is currently trading at $3.67/MMBtu. Immediate support lies at $3.2 area & resistance at $4.1
Gold prices edged lower on Monday as stronger-than-expected U.S. nonfarm payrolls data dampened hopes for aggressive Federal Reserve rate cuts, bolstering the dollar. Spot gold slipped 0.1% to $2,686.32 an ounce, while F…
On-chain data shows BTC whales moved 10000 BTC from Crypto exchanges. This indicate accumulation of BTC by whales. Japanese public company Metaplanet buys another 1 billion yen worth of Bitcoin. According to Santiment, t…
Personal income increased by 0.2% month over month In August, which was less than the 0.4% market forecast and less than the 0.3% growth in July. For the third consecutive month, real personal disposable income increased…
