Volatility reared its head across all markets this week, and the oil markets were no exception.
A combination of geopolitical tensions, general inflationary pressures, and a lingering supply/demand imbalance pushed the price of West Texas Intermediate (WTI) crude oil to its highest level since 2014 early in the week.
However, sentiment turned on a dime in the...
Shrugging off ongoing political uncertainty around Boris Johnson’s future as UK Prime Minister, the British pound was one of the strongest major currency pairs this week.
GBP/USD has surged nearly 600 pips off its Christmas week lows to reach the mid-1.3700s, breaking out of a 9-month bearish channel in the process. While rates did pull back slightly on Friday,...
The world’s oldest cryptocurrency has had a rough week, trading down nearly 13% from its New Year’s day high.
The biggest catalyst for the selloff was Wednesday’s FOMC minutes, which showed that the US central bank was closer than anticipated to completing its taper, raising interest rates, and even drawing down its bloated balance sheet. In response to the FOMC...
The world’s most-widely traded currency pair is poised for a big move heading into dueling central bank meetings next week.
In its meeting on Wednesday, the Federal Reserve is widely expected to accelerate its pace of asset purchases, potentially opening the door for an interest rate hike in the first half of the year if inflationary pressures remain elevated....
The world’s most important commodity is coming off a brutal month.
After stalling out near $85 in early November, West Texas Intermediate (WTI) crude oil collapsed more than 25% on the back of excess supply from the US and OPEC+ combined with a potentially big hit to demand from the Omicron variant.
Despite the big drop, there are some tentative signs that WTI...
After an impressive 500+ pip rally in less than a month from late September to late October, USD/JPY has clearly lost its mojo over the last month.
The pair pulled back from its 4.5-year high near 114.75 through the early part of this month before staging a big rally on the back of the 30-year high in US CPI last week. Unfortunately for bulls, it now looks...
Without putting too fine of a point on it, it’s been a rough 15 months for gold bulls since the precious metal peaked near $2075 in August 2020 . For the first time in more than a year, there may finally be reasons for optimism among gold bugs.
On the back of this week’s 30-year high in the US CPI report, gold bugs have seemingly finally woken up to the risk of...
Following the surprisingly cautious Bank of England (BOE) meeting earlier this week, pound sterling is in freefall.
Looking at GBP/USD in particular, the pair is falling nearly 200 pips from Monday’s open, which would mark its worst week since August . More importantly, cable is approaching its year-to-date low at 1.3412 ; the last time the pair traded below...
The oldest cryptocurrency made headlines galore when it burst out to fresh record highs near $65,000 on the launch of a futures-based Bitcoin ETF last week, but bulls have been disappointed that the momentum has reversed over the last 10 days or so.
Bears will argue that with “memecoins” like SHIB and DOGE surging, we’re clearly reaching (or even past) the "peak...
Silver has rallied an impressive 14% in less than a month off its late September low, more the tripling the corresponding gain in gold, but the rally may soon peter out as the metal approaches a key area of resistance near 24.80.
As our analyst Matt Simpson has been noting on twitter (@cLeverEdge) throughout the week, silver formed a well-defined “inverted...
The world’s most widely-traded currency pair has had a relatively rough go of late, falling nearly 400 pips from its early September peak to this week’s low before finding a floor and bouncing back into the weekend. The pair did show a bullish divergence with its 14-day RSI indicator at the recent lows, signaling waning selling pressure and the potential for a...
Almost exactly a month ago ( here ), we highlighted the 42K-53K range in Bitcoin and noted that “a bullish breakout above 53K would open the door for a continuation toward record highs above 60K in time.”
Well, last week brought that key breakout, and after consolidating in the mid-50Ks for a couple days, Bitcoin is in rally mode again today, eclipsing 57K as of...
The Dow Jones Industrial Average (DJIA / Wall Street) finished the month of September trading down -4.3%, its largest 1-month decline of the year and more than twice the -2.0% drop that it saw in January.
So where does that leave the most popular US index?
In a word: Adrift .
After rising consistently from last November through this September, the Dow has now...
After Fed Chairman Jerome Powell’s heavy hint that the central bank would announce its plans for tapering asset purchases at its next meeting in November, the world’s most widely-traded currency pair is poised to finish the week just above key support in the 1.1670-1.1700 range.
Since the start of Q3, EUR/USD has carved out a well-defined range between support...
After yesterday’s big selloff in all risk assets, ETH/USD is testing a crucial level at $3000.
The world’s second-largest cryptoasset has already shed 25% of its value this month to trade back to the bottom of August’s $3000-3300 range, and if that level gives way, a deeper pullback toward the mid-2000s could be next.
Thankfully for ETH/USD bulls, the pair is...
Despite the hullabaloo around Bitcoin getting adopted as an official currency of El Salvador (or perhaps because of it), the cryptocurrency sold off sharply from previous-support-turned-resistance at 53,000 this week.
Now, bulls and bears have drawn their lines in the sand, with support likely near the 200-day EMA and previous resistance in the 42,000 area and...
After a precipitous drop to test support near 23.00 (the 38.2% Fibonacci retracement of the March 2020 – March 2021 rally) early this month, Silver has spent the last three weeks consolidating in a range between 23.00 and 24.00.
As experienced traders know, volatility tends to be cyclical, meaning that markets alternate between periods of large trending movements...
