Brent Steady On Promising Global Appetite
Brent crude oil (BNO, quote) was steady above $108 as encouraging data from the world’s top two consumers helped raise the global demand outlook.
Futures
Traders and investors continue to climb the wall of worry
As equity markets continue to ‘climb the wall of worry’ and with so many market commentators predicting the imminent collapse of the current bull run, this may be a good time to take a more dispassionate view based on the two leading technical indicators traders and investors have, namely volume and price.
China accelerates as euro zone stumbles
Signs of an economic revival in China have raised hopes that Beijing’s targeted measures to bolster growth are having an impact but a slowdown in the euro zone will increase expectations of policy easing there.
Oil prices pause once again at stubborn resistance level
Oil appears to have run out out of steam once again, following the bullish rally during May, with $104 per barrel once again proving to be a major stumbling block, and as shown on the daily chart with the yellow dotted line.
A critical week for gold
For gold bugs, 2014 promised so much following its long decline in 2013, which saw the precious metal lose over $500 per ounce. The first quarter of 2014 looked promising with gold recovering $300 per ounce and climbing back to test the $1,400 per ounce level – heady days.
Picking up the threads (VIX)
If, like me you have had to take a break from trading and the markets, it can sometimes be difficult to pick up the threads and re-orientate yourself to the emotional state of the market. And perhaps the best place to start is with the major indices, in particular the VIX, the Dollar Index and the NASDAQ.
Brent Near Three Week High On Supply Worries
Brent crude oil (BNO, quote) made its way above $110 on Thursday as rising tension in Ukraine raised concerns about supply interruptions.
Where next for the US dollar?
Following continued bullish momentum for many of the major currency pairs, these are now approaching key technical levels, which if breached could prove to be the tipping points for some sustained and longer term trends to develop.
Trade Alert – New Position – USO
Option Alert Service Signal New Trade Suggestion
China Gold Bar Consumption Drops
Gold (GLD, quote) demand in China dropped off in the first quarter of 2014. Economist are citing the weakness in gift giving of gold bars.