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411 days ago

#oil gains 5% on OPEC+ cuts $USO #trading #forex

Oil prices surged after the surprised production cuts by OPEC+. Now the question remains about the state of global demand. It also reveals the cartel is worried about the oil price slipping further, and shows the thin level of tolerance for the cartel. From a trading perspective, oil is now at the top of its range and traders should patient for a clearer setup now. Our view was for oil to rally from the floors set during the Credit Suisse and Deutsche Bank scare, but now that trade doesn't have an attractive risk reward anymore.

#Forex #Commodities

416 days ago

#Oil Stocks Bottom as Oil Rebounds Strongly $WTI $XLE $OXY #trading

Oil extends gains as reports point to diminishing US stockpiles. Limited supplies continue to worry traders, while at the same time recession, fears are keeping market participants on edge. Here we observe that oil stocks have managed to hold onto most of their gains of last year, and that is despite the oil price coming down significantly.

#Commodities

417 days ago

Bets on #oil fall to 7y low. $uso #trading #creditsuisse #recession

Money managers cut bullish positions in US Crude to the lowest since January 2016, according to the Commodity Futures Trading Commission, per Bloomberg.

#Commodities

417 days ago

Gold, gold miners, and dollar return to equilibrium $GLD $GDX $DXY

Gold prices had run up slightly faster than the dollar had weakened amid buyers' enthusiasm, but that is no longer the case as the yellow metal pulls back. Similarly, gold miners have quickly caught up to the yellow metal's performance amid improving sentiment for gold, after the banking stress pressed many would-be buyers to go shopping either for the physical metal or add a bit of it to their portfolio. In fact, call options volume for the SPDR Gold Trust has jumped recently, revealing investors are taking more aggressive bets that gold will make a move on the upside.

#Commodities

418 days ago

Bets on #gold jump amid #banking crisis! #creditsuisse #deutschebank #svb

Gold prices have advanced 8% so far this year. And call options volume for the SPDR Gold Trust has jumped recently, suggesting investors are taking more aggressive bets that gold will make a move on the upside.

#Commodities
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