Oil Rebounds as Iraq Signals Deeper Cuts Ahead of OPEC+ Meeting

Oil rebounded from the biggest weekly loss since October as Iraq signaled OPEC+ will consider deeper output cuts at its meeting this week, contrary to expectations, and China’s economy showed signs of improvement. Futures surged as much as 1.9% in New York after plunging 5.1% on Friday amid indications OPEC+ won’t make steeper supply reductions. […]

The correlation between USD and OIL is still broken

The correlation implies a weak dollar – strong oil. This correlation has not been implemented for some time, which is certainly straining investors and traders trading mainly “black gold”. While green money is depreciating, oil is not moving, but it does give room for catching up and potentially appreciating oil in the short term to […]

Oil holds near $60 amid hurricane Barry and the crisis with Iran

Oil started the week, holding about $ 60 after nearly 73% of all oil and gas production due to Hurricane Barry, the Gulf of Mexico was shut down despite worries about the overall outlook for oil. Futures slowed down after last week’s “black gold” rose by 4.7%. Despite these 73% off production on Sunday, some […]

Oil begins to catch up with copper

We have  looked at the correlation between raw materials and stocks, and we have repeatedly mentioned this correlation between oil and stocks and copper and stocks. Today, against the backdrop of stock sale, again due to fears of recession, the opening of the new trading front and the curve of the bonds, oil was also […]

GOLD (CMD) opportunity to buy with the trend

Technical Comment: We are seeing a long-term upward trend in the gold that still holds. Currently, the price makes a second attempt to test the lower diagonal support, but also at Fibonacci level 38.2 at a price of 1276.06. For the moment, the price has been successfully holding above the trendline, with bulls trying to […]

Commodity sensitivity to Trade War

The trade war took a lot of “sacrifices” with itself. Commodity currencies such as the Canadian dollar and the Australian, to stock indices and violated the trade balances of China and the US – the titans in the collision. Of course, the sectors, resources and industries with the largest mutual exposures have suffered the greatest […]

Standard Chartered expects a new jump in the price of gold

A top Wall Street analyst predicts gold will come out of the range this year. The statement of Standard Chartered’s commodity analyst Suki Cooper is backed by the recent fall of gold, recording its lowest level in 2019. According to Suki, gold enters resale territory. A key argument for its bullish stance on gold is […]

Gold against the Index of fear

Since the beginning of the year, the correlation between VIX – the fear index – and gold has been lost, following the sharp spike of VIX in the strongest sellouts of the last quarter of 2018 on the stock markets, the two instruments have “made their own way.” Of course, gold has seen a jump […]

Wall Street predicts strong oil in 2019, but caution about the upcoming risks

Wall Street analysts predict oil “two-part history” for the prices of both WTI and BRENT varieties in 2019 According to the forecast, the price of oil will begin to recover in the first six months of the new year, interrupting the massive sell-off series, which since October 2018 has led to a 40% drop in […]

Morgan Stanley with a reduced forecast for Brent oil

Morgan Stanley revised its forecast for the Brent variety for 2019 Their new target is the price to maintain average levels of around $ 68.50, with their previous vision at about $ 78.50. Their expectations are a rise in prices, but not too high, due to the likelihood of OPEC’s success in protecting the market […]