Take five oil prices8/27/2023 ![]() Falken Tires Review – Read Opinions From ProfessionalsĮven if you don’t think that your car is a modern marvel, it deserves good treatment.Transmission Fluid Change Cost 2021 – Valvoline, Jiffy Lube, Firestone….You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved. ![]() Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. ![]() Risk Disclaimers This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. ![]() The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. Important Disclaimers The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. Either way, I would expect a lot of volatility.įor a look at all of today’s economic events, check out our economic calendar. If we can break above there, then I think you could see a bit of a “FOMO trade” to the upside, perhaps allowing the market to go looking to the 200-Day EMA, which has just dipped below the crucial $85 level. The $80 level is a large, round, psychologically significant figure, and of course an area where we would see a lot of options barriers erected as well. On the other hand, if we do break above the 50-Day EMA, then it’s possible that we could go looking to the $80 level. If we do break down below there, then I think it’s likely that we go down to the $72.50 level, and then eventually the $70 level. While it does look very bullish over the last couple of days, signs of exhaustion between here and the 50-Day EMA might kick off more selling, opening up the possibility of Brent dropping well below the $75 level again. The Brent market actually is touching the bottom of the triangle that it broke down from previously, and unlike the WTI grade, it has a much cleaner technical setup. I think we are going to continue to see choppy volatility through the rest of summer. I think there are still a lot of concerns when it comes to global demand, but it’s also worth noting that supply is tight. On signs of exhaustion I will be more than willing to start selling, but I would not be a buyer at this point, at least not to chase a move like we have seen over the last 48 hours. The 50-Day EMA above could offer a little bit of resistance, so be aware that it could come into the picture.
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