Key Points EIA data indicates further stocks drawdownsTechnical analysis Energy International Agency’s data indicated a further drawdown in stock for the previous week, with a reading of – 122Bcf against market expectations of -120Bcf. The prior week had a drawdown in...
Willard Kachere
Copper Looks Unstoppable Beyond $3.000
Key points Chinese demand remains robustIndustrial production remains resilienceTechnical analysis China’s copper-intensive manufacturing sector has been expanding at a rapid pace in November, according to an official survey whose sub-index for construction picked up...
Bitcoin Strikes $24,000.
Key Points U.S. monetary policy stance spurs bitcoin bullsMixed bag of bullish fundamentals Bitcoin; 4 Hour Chart Source; QEFxMoney Yesterday the primary crypto currency cleared the coveted psychological resistance level at $20,000. Bitcoin initiated another leg up...
Oil heads towards $50 after breaking out off a rising pennant.
Key Points. Covid-19 vaccine hopes driving the energy marketEIA data indicated a drawdown in stocksBullish breakout The latest information from the vaccine frontier indicates that the Pfizer-BioNTech coronavirus vaccine is effective and safe. The U.S. Food and Drug...
Silver Rises Towards $26.00 Per Ounce
Key points U.S. Stimulus package on the horizonIndustrial demand for metals remains robustTrend indicators are pointing upwards U.S. stimulus package remains on the horizon as investors believe that in today’s Federal Reserve Rate Decision, some positive news will be...
Bitcoin on the verge of going beyond $20,000.
Key Points Strong bullish momentum to break towards new highsAltcoins struggle for directionMajor trend remains upwards The primary crypto currency recorded a high of $19,575 before prices dropped slightly above the $19,000 price level. Ethereum initiated an...
Bulls Retreating on Gold.
Key points Prospects of U.S. Stimulus keeps buyers optimisticRisk appetite ticked up on vaccine newsBuyers struggle at the $1850.00 handle The prospect of an imminent U.S. stimulus package is holding up prices of commodities including precious metals. Extra liquidity...
Oil Soars Higher on Vaccine Optimism
Key Points Prices reach $47 despite EIA dataCovid-19 vaccine rises optimism in the marketOPEC comfortable with the current price trajectory U.S. EIA data indicated massive build up in crude oil stocks for the week running up until the 4th of December. Previously on...
Natural Gas Falls from Monthly Highs
Key Points EIA data indicates a drawdown in stocksOpen interest on the declineTechnical levels The U.S. EIA data indicated that domestic supplies of natural gas declined by 91 billion cubic feet for the week ending December 4. The data deviated from markets...
Silver Contained Below $24.00
Key Points Safe haven statusMixed economic dataU.S. Dollar recovery stalls commodities’ bullish runPrices are range bound The demand for Silver has largely been attributed to its industrial uses, but as of late its demand as a safe haven asset has contributed to it...
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