Bank of America Posts Strong Q4 2024 Results, Shares Rise 
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts 
FxWirePro: GBP/USD recovers some ground but bears are not done yet 
NZD/JPY Breakout Blast: Kiwi Rocket Smashes 94.50 Resistance, Bulls Lock Sights on 95 
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure 
FxWirePro: USD/JPY edges higher but bulls lack punch 
Urban studies: Doing research when every city is different 
Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close 
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
UBS Projects Mixed Market Outlook for 2025 Amid Trump Policy Uncertainty 
Trump’s "Shock and Awe" Agenda: Executive Orders from Day One 
FxWirePro: USD/CNY bears maintain upper hand 
EUR/JPY Bulls Hold the Line Above 185: Eyes Locked on 188 Breakout 
WTI crude oil’s bullish price sentiments are somewhat exhausted after a strong rise through most of February. As a result, WTI CFDs has spiked about 6.02%.
But for now, ahead of the US EIA’s inventory reports, WTI crude bears seem to have been resumed.
The EIA’s previous levels showed that crude oil production reached 12 million barrels per day (mbpd) for the first time last week. Crude oil output has dipped to -8.6 mbpd from previous 3.7 mbpd, while consensus was about 2.8 mbpd.
Technical and Candlestick Patterns: WTI crude’s bullish engulfing pattern at $46.57 levels, has taken-off rallies above 21-DMA, but the bears resume at the stiff resistance of $57.93 levels. The selling pressures are boosted by both the momentum oscillators, RSI and stochastic curves show downward convergence to the mild price dips to indicate overbought (OB0 pressures.
On a medium-term perspective, sharp rallies have been observed after bottoming out at $42.40 levels. The interim upswings, for now, are restrained below 21-EMAs (refer monthly chart).
The major downtrend continuation seems to be on cards as both technical indicators signal weakness on this timeframe. The consolidation phase took place upon hammer & dragonfly doji formations at $33.73 and $33.87 levels but 3-black crow pattern has occurred at $45.40 levels to counter with steep slumps below EMAs, the bearish pattern coupled with the bearish signals of technical indicators still signal weakness (monthly plotting).
Overall, one could foresee topsy-turvy swings the major trend of this energy commodity in 2019 and more dips likely on the intensified OB pressures & bearish MACD crossover in the near term.
Trading Recommendations: Contemplating technical rationale, we’ve advocated initiating longs in NYMEX WTI June 2019 and short NYMEX WTI December 2019 spread on hedging grounds at - $1.19/bbl in the recent past, with the target of +$2/bbl and stop loss of -$2/bbl
Currency Strength Index: FxWirePro's hourly EUR spot index is inching towards -19 levels (which is mildly bearish), while hourly USD spot index was at 129 (highly bullish) while articulating (at 10:42 GMT).
For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex
