Technical Outlook

Bulls look for firm break of psychological 1.40 barrier

Cable returns above 1.40 mark and hits new 34-month high at 1.4052 after brief dip to 1.3980 in early European trading on Monday. Bulls attempt to sustain break above psychological 1.40 barrier after registering a marginal close above last Friday (the first close above 1.40 since mid-Apr 2018). Pound is supported by UK economic recovery hopes and…
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WTI oil rises above $60 for the first time since Dec 2019

WTI oil broke above psychological $ 60 barrier on Monday, hitting levels last traded in December 2019. Recent tightening supplies by OPEC group and its allies, boosted expectations of full revival of global oil demand and rebalancing world oil market, while US President Biden’s efforts to push through his first major legislative in approving…
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