ONLINE FOREX BROKER
2021-01-13 • Updated
The short-term view of the WTI oil price performance gives a perfect picture of an upward march. Crossing $50 per barrel in the first week of January, it went straight to $52, made a brief correction, and reached $54 just a while ago. Does it suggest further upside? Yes. But it also suggests a downward correction. To where it may be? Let’s expand the view.
The mid-term view shows that after the rise to $42 in August, the WTI oil price plunged to $35 in October. Since then, it has been recovering - and, eventually, exceeding - the losses. The current march from $50 to $55 is as aggressive as the initial bullish reversal in October-November. Back then, no downward correction happened after that. Largely, that’s because the upswing itself was a correction after the plunge. But now, the uptrend we are witnessing is no correction – not in the mid-term, at least.
From the strategic perspective, the price is at the doorstep of the pre-virus levels now. Yes, the oil market can celebrate full recovery. At least, from the WTI oil price point of view. $50 is where it was at the end of 2019 - $50 is what it just crossed a while ago. Therefore, any further upside potential can no longer be ascribed to the strategic recoil to the virus plunge in 2020. $50-$65 is the range of the price performance since the end of 2017 – the price is back here now. For this reason, from the mid-term point of view, dropping to $50 just to cool off is a possibility. But in the long run, whether it will make it to $65 is a question to OPEC and fundamental factors.
The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
The previous year 2022, was undoubtedly tumultuous for the stock markets, with several stocks plummeting across multiple industries. Analysts have blamed the hard times on inflation, hawkish federal reserve policies, an impending global recession, and the ongoing crisis in Ukraine. This year, however, we're beginning to see some recovery in the stock markets. This article will find a few stocks worth buying this year.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.
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