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India's inflation data in focus as Modi meets Putin As Indian Prime Minister Narendra Modi engages with Russian President Vladimir Putin in Moscow, the focus back home will shift to the latest inflation figures. India has faced significant pressure from Western nations to distance itself from Russia following the invasion of Ukraine. However, New Delhi has maintained its ties with Moscow. A key factor in this enduring relationship is energy cooperation, which has played a pivotal role in stabilizing fuel prices and, consequently, inflation in India. In May 2024, India's annual consumer inflation rate eased to 4.75%, down slightly from 4.83% in April. Projections for the upcoming data suggest a minor decrease to 4.70%. However, Reuters reports indicate a different trend. According to a poll of 54 economists, inflation in India likely edged up in June, breaking a five-month streak of declines. This increase is attributed to a surge in vegetable prices, driven by extreme weather conditions damaging crops. The poll forecasts inflation rising to 4.80% year-on-year in June, up from 4.75% in May. Food prices, which constitute around half of the overall Consumer Price Index (CPI) basket, are a significant factor in this anticipated rise. For the exact date and time of these major economic events, import the BlackBull Markets Economic Calendar to receive alerts directly in your email inbox. The USD/INR potentially maintains its bullish bias, staying above the key 100-day Exponential Moving Average (EMA) on the daily chart. Upside targets include 83.65, the upper boundary of its trading range. On the downside, the 100-day EMA at 83.40 serves as an initial support level for the pair.
by BlackBull_Markets
MOEX Russia Index. The epic 52-weeks breakthrough expectedRussia’s trapped domestic investors push stock market to 2-years high. Russia’s stock market (so-called, Moscow Exchange Index MOEX:IMOEX ) has climbed recently to its highest level in 2 years as domestic retail investors with nowhere else to go snap up the dividend-paying stocks that sold off heavily following the Russia-Ukraine conflict. A rise of more than 100 per cent since March, 2022 low has pushed the MOEX index to levels last hit in early February 2022, before Russian President Vladimir Putin announces so-called "special military operation" that sent Russia’s equity market into freefall. The market’s partial rebound over the two years has come despite the imposition of countless western sanctions designed to cripple Russia’s financial system. The Kremlin responded to the measures by blocking most foreign traders from exiting their investments and capping the amount of money Russians can stash in foreign bank accounts. Due to U.S. Department of Treasury and Euroclear sanctions, money is trapped. Where do you put it but on the exchange? Deprived of investment opportunities abroad (because of stupid, a nazi-like sanctions), Russians have piled their savings into the likes of Lukoil, Gazprom and Sberbank, which combined account for about 40 per cent of the stock market’s total value. “Russian retail investors have always been about dividends,” said Sofya Donets, chief Russia economist at Renaissance Capital, a Moscow investment bank. The Russian stock market’s recent rally bears some resemblance to the surprisingly strong performance of the Borsa Istanbul 100 last year. Russia’s economy has also held up better than expected. For many domestic Russian retail investors, nothing has changed compared to before the conflicted started, as the economy is doing OK. Big dividend payers like state-owned Sberbank, whose shares are up 71 per cent trailing 12 months, are attractive to most Russians and now they’re some of the few investment options available.  Even so, foreign investors not banned by sanctions have kept well clear of the Moex since an exodus last February, when central bank figures show non-residents shed about Rbs170bn ($2.2bn) worth of Russian stocks. Trading volumes on the Moex slumped 41 per cent year on year in 2022. There is a “close-to-zero chance” that foreigners whose Russian holdings have in effect been frozen will be allowed to sell out of their positions. Perhaps there could be an artificial settlement, some kind of exchange for holdings frozen for Russian investors outside of Russia. In technical terms, IMOEX graph is near to break 52-weeks highs, following 26-weeks SMA, with further upside opportunities to reach 4000 points and new historical highs.
RUS:IRUS
by Pandorra
Occidental Petroleum Corp.: Bullish Bias. ContinuationTo be successful on Wall Street, it is important to be flexible and be able to recognize changing market winds - the patterns that tell investors when to get in and out of the market. Sometimes a breeze is a warm and inviting wind: assets rise in value, and it seems that everyone is making money. Other times, it turns into a violent storm, leaving in its wake financial destruction, memories of the past, and hope that better times are yet to come. Occidental Petroleum Corporation (often abbreviated as Oxy in reference to the symbol and logo) is an American company engaged in hydrocarbon exploration in the United States and the Middle East, as well as petrochemical production in the United States, Canada and Chile. The oil company, among other Value Investing Assets, has become one of the main beneficiaries of the weakening and reversal of WFH ("Working From Home") disinflationary trends that quickly shook the entire financial world against the backdrop of the Covid-19 pandemic in Q1 2020. But faded also just as quickly, while since the first quarter of 2021, in two years, many growth assets have been undermined, rocked by scandals, or completely destroyed. It was revealed in March that Warren Buffett's Berkshire Hathaway added more shares to an already large bet on Occidental Petroleum, according to an SEC Form 4 report released on March 7, 2023. The Buffett conglomerate bought nearly 5.8 million shares of the oil company over multiple trading sessions in March, at prices ranging from $59.85 to $61.90, according to the documents. Berkshire now owns 200.2 million shares of Occidental, totaling 22.2% of the oil company's shares, up from 21.4% previously. Occidental shares are currently among the top 10 Berkshire holdings. The energy company outperformed the S&P 500 index last year, more than doubling in price. In March, Occidental CEO Vicki Hollub said in an interview with CNBC that she met with the 92-year-old investor, noting that they talked about the oil and gas industry and related technologies. Last August, Berkshire received regulatory approval to buy up to 50% of Occidental, sparking speculation that Berkshire could eventually buy out the entire Occidental company. Berkshire also owns $10 billion of preferred shares in Occidental and has warrants to buy another 83.9 million shares of common stock for $5 billion, or $59.62 each. The warrants were obtained as part of the company's 2019 deal that helped finance the purchase of Anadarko Occidental. While many investors even now continue to believe in the crypto-snow that melted without a trace the winter before last, the technical picture indicates the possibility of Growth comtinuation in value investment assets, incl. Occidental Petroleum - after the completion of the 0.618x Fibonacci retrace to the Growth that began later to Russian President "Special Military Operation" announcement in Q1'22. Also, the support of weekly SMA (200) in CL1! - Crude Oil Futures adds bullish bias to market participants.
Editors' picks
NYSE:OXY
by Pandorra
11
NZDUSD Price Movement After Fed Turns To Timing Of CutsAfter breaking through a strong resistance level in the range of 0.617-0.618, the price of NZDUSD continued to move upward within the framework of impulse wave 3. We expect the bullish trend to continue with minor pullbacks up to 0.645. In recent weeks, the New Zealand dollar has been one of the strongest currencies, but we expect this trend to continue in the medium term due to the Fed's intention to cut rates in 2024. Show your support by liking👍, following✅, sharing🙌, and commenting✍! Feel free to share your ideas and charts below. Your engagement is crucial in spreading the word and maintaining the relevance of the content. Thanks for being an essential part of this community! Analyst’s Disclosure: This article may not take into account all the risks and catalysts for the stocks described in it. Any part of this analytical article is provided for informational purposes only, does not constitute an individual investment recommendation, investment idea, advice, offer to buy or sell securities, or other financial instruments. The completeness and accuracy of the information in the analytical article are not guaranteed. If any fundamental criteria or events change in the future, I do not assume any obligation to update this article.
Long
by AisenQuantum
1
GOLD TRIPLE TOP - WAR END?All eyes are on Chinese President Xi Jinping’s state visit to Russia that begins on Monday. During the three-day visit, the leaders of the two nations will discuss the deepening of economic and political cooperation as well as the war in Ukraine. If this meeting tends to reach a diplomatic solution to end Russia-Ukraine war then Gold will see a massive sell-off. Also, FED is very likely to add a 25BPS to reach 5% interest rate, kinda expected but it brings more pain to markets. I will keep updating this, follow to get alerts 🔔
OANDA:XAUUSDShort
by dogofwallstreets
The West Takes Aim at Russian Oil MarketsAs tensions continue to escalate between the West and Russia, a new development has emerged in the ongoing struggle over oil shipments. The West has been using shipping insurance as a tool to put pressure on Russia, but this strategy has had limited success so far. Insurance is only available for shipments valued at less than $60 a barrel, and as it happens, Russian oil already trades just below this cap. As a result, it's not yet clear how much of an impact this will have on oil prices. But this raises an interesting question: why would the West set the cap at this level? The answer, it seems, is that they've calculated it in such a way that it provides just enough incentive for Putin to keep pumping oil. This is because the West is understandably concerned that Putin might choose to remove Russian oil from the international market, causing prices to rise significantly. And if global oil prices do rise much above where they currently are, the situation could become much more heated. This is just one example of the complex dance that goes on between petronations and the West. On the one hand, the West has the ability to put pressure on petronations by limiting their access to the global market. But on the other hand, petronations have the power to put significant pressure on the West via energy prices. So it's a delicate balancing act, and it's not always clear who has the upper hand. But what does this mean for the future? Well, it's difficult to say for certain, but it's clear that the West is trying to find a way to put pressure on Russia without causing a major disruption in the global oil market. And if they're successful, it could have significant implications for the ongoing struggle between the West and Russia. Of course, there are many other factors at play here, and it's impossible to predict exactly how things will unfold. But one thing is clear: the discussion around this issue is only going to become more heated as global oil prices continue to fluctuate. So it's definitely a topic worth keeping an eye on in the coming months and years.
FX:USOIL
by JoelWarby
2
XAUUSDHello traders. Gold is continuing to create Higher Highs and preseserves Higher Lows. If you look on the left of past chart depiction, the area of 178x has been considered a former resistance like the 179x. Finally, the price last August touched 1803 level and fell vigorously. So, every possible entry at these levels could be profitable. But, the safest place to place the SL I strongly believe is above 1803 area. We all know what gold can do with spikes. Regarding of spikes, the price action is indicating the weakness to go higher for short - term. Traders Dynamic index has created a divergence with Price movement, but this doesn't mean that it will sell immidiately. It can go further for some time, this is the reason I consider both 179x and 180x nice areas for sell - close to the Daily supply zone, where many pending orders will be open. A break above 1812 I think it may push price higher to 1840 - 1860 levels. 1750 area can be considered a safe zone for first TP and maybe a good entry for buys but the main key area is 1730, for strong buy. Breaking news some moments ago informed humanity about a missile attack to some village of Poland. If this was not an accident and it was made by design, prepare to see gold rocketing above ATH!!! Good luck!
FXOPEN:XAUUSD
by The_Forex_Path
The Future of Bitcoin.Hello, I have outlined the current channel structure with two possible scenarios. As BTC climbs we will likely see a rejection at the resistance point of the channel around 25k. Macro political issues will play a role in either continuing the rise or fall of BTC. From my understanding of the global macro climate, it is highly likely Putin will launch a tactical missile(nuke). This will spark panic/fear in markets that we have not yet seen this cycle; leading to a flash crash to 12K or below in the highlighted dates. The flash crash presents an opportunity for accumulation. After the crash, the price is expected to rebound back to 29K which marks the end of the bear cycle and the beginning of a new bull cycle. Bitcoin is expected to surpass 100K.
CME:BTC1!
by BitcoinOasis
1
$BABA my team is underrated 👁‍🗨*This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management* We've been here before. My team isn't expecting to lose this trade, but if we do it would only put a small dent into the 35% gain that we've already acquired. Our Entry: $111 Take Profit: $128 Stop Loss: $102 If you want to see more, please like and follow us @SimplyShowMeTheMoney
NYSE:BABALong
by SimplyShowMeTheMoney
6
$USOIL purely technical 👁‍🗨*This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management !! This chart analysis is for reference purposes only !! $USOIL appears to be on a pathway to retest its support zone for the third time. If this zone is breached, we expect $USOIL to head into the $80-$90 range. This scenario is purely technical. If you want to see more, please like and follow us @SimplyShowMeTheMoney
TVC:USOILShort
by SimplyShowMeTheMoney
$US30 the glass house 👁‍🗨*This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management !! This chart analysis is for reference purposes only !! $US30 has been consolidating outside of our bearish channel for the past 2 weeks. Many traders automatically assume that this is bullish, but appearances can sometimes be deceiving. My team still expects a strong bearish move to take place within the next couple of weeks, but it may retest 35350-35850 before that happens. Overall, the market appears to be waiting for a catalyst to justify an impulsive move down. Our guess is that repercussions/escalations from the Russian-Ukraine crisis will kick this move into motion before May arrives. If you want to see more, please like and follow us @SimplyShowMeTheMoney
U
by SimplyShowMeTheMoney
XRP Is Not A Speculative Investment, 5$ !!XRPUSDT formed support at $0.81 with the channel broken @ FIB 61.8% ($0.86). Price is getting back to the resistance, a pull back happened to create momentum which will break it. With the impacts of the current suit case, XRP has been bullish fatigue; however, a positive rumour drove the price to a high of $0.9 back on March 27-28, and if XRP is really winning, in long term it will cause a major market shake and taking the prices to $5 or above. In general XRP is bullish, but fundamentally speaking, the news is causing investors to hold, leads to lower market volume, we see that in the formation of 4H candlesticks We will discuss more on the possibility on our Live. Stay tune and check with us! Want more insights before US market open? Hit Like, Share, and Subscribe for more daily trading tutorial & cryptocurrency news Trade Scholar, the best cryptocurrency educational community online! Find the content above difficult to understand? Feeling lost about how to trade? Want to learn how to do your Own Price Prediction? We endeavour to share you our investment knowledge & experience in order to help you starting your path to financial freedom. Follow, Subscribe & Join our Community to trade together! Disclaimer: Above Technical Analysis is pure educational information, not Investment Advice. The information provided on this post does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
Long
by Trade_Scholar