Key Points Price consolidationOpen Interest on the downside Crude oil has been trading in a tight consolidation region between $44.35 and $46.75 since mid-November. In the past few days a much narrower range of $45.20 and $46.00 has managed to contain prices as...
Willard Kachere
Gold Bulls Getting Back in Control.
Key Points ATH in the overbought regionPrice above the $1850 resistance handleRSI pointing upwards Gold Daily Chart Source; QEFxMoney Gold bulls may finally be reclaiming their position in the driving seat after price displayed an impressive bullish recovery after...
Copper climbs higher on vaccine hopes
Key points Price rockets to $3.500 per ounceCovid-19 vaccine optimism is good for industrial metalsThe long term remains bullish The price of copper is on a sharp rise right now riding on the back news that a number of pharmaceutical companies have developed effective...
Silver Recover from last week’s sell-off
Key Points 0.382 Fibonacci levelBreakout from descending resistance lineAscending Channel Silver Daily Chart Source; QEFxMoney Prices have managed to find support at the 0.382 Fibonacci level. Discounting the first breakout beyond this level, price action has created...
Bitcoin remains strong at the $20,000 handle.
BTCUSD Monthly Chart Source; QEFxMoney Bitcoin’s price yesterday finally registered a new all-time high of $19,870, after recording its highest price level of $19,660 in December 2017. It is worth noting that the journey back to this current price level has been a...
Gold finds support at the 200 Moving Average Region.
Key Points Long term fundamentals remain bullish200 Moving Average Saves the dayBulls to face major resistance at $1850.Minor resistance around $1800 region As markets remain optimistic about another stimulus package being delivered by the U.S. policy makers, that...
Oil Ahead of OPEC & OPEC+ Meetings
Oil producers comprising of the OPEC and OPEC+ are inclined towards contemplating whether to extend current oil production cuts into 2021 or to gradually hike production from January as global demand displays some signs of resilience amid Covid-19 vaccine rhetoric....
Silver Floating Above $22.00
Key Points Slight indecision close to the support regionBearish momentum gaining traction as prices are below the 60 MALong term trend still inclined to the upside Prices turned southwards after failing to re-enter the monthly ascending channel during a bullish...
Gold Slides Towards $1800, As Risks Falls Further
Key Points Gold breaks below monthly support at $1850.Bears heading for the $1760 support thresholdBulls will struggle to reclaim the ascending channel. Gold Spot is fighting for dear life near the critical $1800 region after tumbling below the strong support at $1849...
GBPUSD Bulls Target 1.3500
Key Points 1.3400 and 1.3500 resistance regionAscending supportPrice above the 200 Moving Average This is the fourth time the Pound has come so high to touch this key zone. The 1.3400 and 1.3500 resistance region proved too strong for the bulls back in August. The...
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