Consumer Price Index, Existing Home Sales, US Fed rate decision - all of these things we will discuss in our new review. Don't miss it out!
Brent at $70 and WTI at $68! Now, correction time...
The oil site in Ras Tanurah on the east coast of Saudi Arabia produces 6% of the total global oil supply alone. That's exactly the site that was recently hit by missiles attacks - one of the several that took place in the last week. No damage was taken to the facilities and no one got hurt. However, as it's the biggest oil production site in the world, investors were really scared that the oil supply may be exposed to risk in our uncertain time.
This fear drove the price to the upside: Brent rose to $70, WTI - to $68. However, as it was purely an emotional reaction of the market, the correction quickly came to the stage. This is exactly how you may benefit from this event - use the correction. The zone of $65 may be a very possible target for bears.
Scenario 1: high tide
The price goes down to $65, floats horizontally, and continues the larger uptrend.
Scenario 2: the middle path
The price goes to the area of $62-63 and bounces upwards.
Scenario 3: to the bottom
The price touches the tactical support of $60 to start a big recovery.
In each scenario, you need to catch the moment of reversal.
- Follow the correction
- Watch for the pick up/reversal/recovery indications
- Buy at the beginning of recovery
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
News is always important part of the market. What do we expect today?
What a day was yesterday! Let’s jump right in!
Credit Suisse's collapse is in focus. What are the consequences of this problem? Let's discuss it here.