Technical Outlook

WTI remains in red on recession fears, OPEC disappointment

WTI oil remains in red on Friday, pressured by growing fears of recession that continues to sour the sentiment, while comments from OPEC that the cartel is not going to increase more its production and will stick to its planned output increases, although being expected, added to negative tone. The action on Friday, following 5.3% drop in past two…
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Bears regained control and eye key supports

The Euro extends steep fall against the dollar into third straight day on Thursday, following a 1.3% drop in past two days, with probe through 1.0419 (Fibo 76.4% of 1.0358/1.0614 upleg) adding to signals that the corrective phase is over. Bears eye key supports at 1.0358/49/40 (June 15 low / 2022 low / 2017 low), with firm break here to signal…
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