Oil prices have been on a fantastic run since early November and with reports emerging of a deal between OPEC+ members on production in February, they've been given another bump today, up close to 4% at the time of writing.
That leaves WTI trading just shy of $50 once again, after running into resistance around here on Monday. A deal to keep output steady is...
Oil prices have been tearing higher since the start of November, rising more than 40% to return to far healthier levels.
The rally has started to slow though and with so much good news - vaccines, OPEC+ deal, US stimulus deal (almost) - now priced in, I wonder whether we're about to see a bit of a corrective move.
WTI has trended higher nicely, following the...
Gold has certainly taken a turn for the better in recent days, despite the Fed not deeming it not necessary to provide any new stimulus measures, instead extending those already in place.
This marginal easing appears to have done the job though. The dollar has continued to fall, 10 year yields haven't spiked and US stock markets are in record territory. Gold,...
There's been no lack of optimism in the markets around the prospects for a Brexit deal in recent months, despite the ultimate deadline now only a couple of weeks away.
There have been signs of nerves creeping in the last couple of weeks but broadly speaking, it's clear there's a sense of "the Boris who cried wolf" about all of this. Despite all the threats, the...
There's an interesting battle building up in the FTSE 100 (UK100), after which we should have a much better idea of whether this rebound has legs or they're going to be sweeped from underneath it.
The charts were starting to look quite promising. We had a clear uptrend and price broke back above the 200/233 period simple moving average band on the 4-hour chart....
Recent price action in the FTSE 100 has certainly been encouraging but it may be a little early to celebrate.
The pull back a couple of weeks ago was very brief and never really gathered any momentum. Moreover, broadly speaking price never held below the 55/89 simple moving average band on the 4-hour chart, which could be viewed as bullish.
Since then we've seen...
We've seen a bounce in the UK100 in the final hours of trading on Monday but I'm far from convinced this changes the near-term outlook for the index.
Firstly, the MACD and stochastic on the 4-hour chart don't suggest there is enormous momentum behind the move, even if it is still early on.
Secondly, no key resistance levels have been broken. Of course, there's...
It's been quite a 24 hours in stock markets, with risk appetite suffering due to a combination of factors including earnings and global recession warnings. This was always going to test this new-found bullishness in the markets.
As always, these may have been the catalyst for the sell-off but there will be other underlying factors as well. For example, just prior...
Stock markets have been on a good run since late March, with the FTSE bouncing back around 20% from its lows to within a whisker of 6,000.
The rally looked to be running out of steam around 5,800 but a late surge on Thursday, backed by momentum, quickly changed that. Unfortunately though, we've since seen a bearish engulfing pattern on the 4-hour chart which begs...
Market has high expectations for OPEC+++
The stand-out event today is undoubtedly the OPEC+++ meeting, where producers will attempt to find agreement on output that addresses the collapse in demand and crude prices.
No one is winning in this environment but, as ever, each are losing to different degrees and have a different ideas on how it should be resolved....
