WTI oil price edged lower on Monday after hitting new marginally higher high ($115.42) on a partial profit taking from over 13% rally in the previous trading session on Thursday. Traders were cautiously optimistic and awaited more details about potential peace talks between the USA and Iran but remain on high alerts on threats of more negative…

The dollar kept firm tone and rose further against its major counterparts on Thursday, following rise in oil prices (Brent bounces back above $100) that sparked fresh wave of risk aversion and fueled demand for safe-haven greenback. Fading ceasefire hopes after initial euphoria that pushed the dollar index down over 10% on Monday, revived bulls…

WTI oil price rose above $90 per barrel on Tuesday after sharp Monday’s drop (around 10%) to $84.50 (the lowest since Mar 11) after President Trump announced a peace deal with Iran and postponed US military action towards Iranian energy sector, sending shockwaves through the markets. Iran’s response that Trump’s announcement was just a fake…

Gold hit the lowest this year ($4100) after falling nearly 8% in the Asian session on Monday. Persisting negative sentiment, which drove the price for 10% drop last week (the biggest weekly loss in decades) was additionally boosted by growing expectations of rate hikes as strong rise on oil prices fuels inflation in its domino-effect to global…

Gold fell sharply on Wednesday (down 3.4% until early US session) signaling continuation of the downtrend from $5419 (Mar 2 high) after bears paused for two consecutive days (the action was shaped in two tight daily Doji candles), consolidating above significant supports at $5000 zone (psychological / daily cloud top). Fresh acceleration through…

WTI oil price dipped on Wednesday after news that Iraq resumed oil exports via pipeline to Turkey’s East Mediterranean port, temporarily changed the sentiment (oil was up around 2% on Tuesday. Optimism over the latest measures (Iraq resumes oil export, release of strategic reserves and lifting sanctions on sales of Russian crude oil) may not be…

Gold price remains at the back foot on Tuesday and continues to pressure key $5000 support zone (recent range floor / psychological / top of thin ascending daily cloud) after Monday’s attack failed to register sustained break lower. Broader bulls remain on hold with the price holding around the mid-point of $5598/$4402 corrective pullback, as…

The Euro bounced from new multi-month low (1.1410) on Monday as traders collect profits from strong fall in past two weeks (the pair was down 3%). Slight optimism over the Middle East crisis contributed to technical signals on oversold daily studies, which paused broader downtrend. Violation of significant supports at 1.1500 zone (former base…