878 days ago
#Gold is popping higher on #dollar weakness, a break through 1824 would indicate a bullish scenario towards 1840
To know more, have a look at our technical analysis tool: https://flowbank.technicalspeakeasy.com/
882 days ago
#OPEC+ chose to maintain a plan for a gradual #output hike of 400,000 barrels a day, making #oilfutures climb more than 1.5% to $82 a #barrel
This news comes despite pressure from the US to raise production by as much as 800,000 barrels a day. After rallying to 7-year highs at near $86 in the last week of October, WTI crude has been shaken by an unexpected build up in US crude inventories. Source: Bloomberg, TradingEconomics
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903 days ago
Copper could be breaking above the short term negative trend line
A significant metal deficit projected for Q4, globally visible copper stocks could reach all-time lows by year-end and absent market adjustments driven by higher price could deplete by Q2 of 2022. This chart shows copper against the DXY inverted. A small pause in the DXY as we have been witnessing could see copper more dynamically shift to the upside.
906 days ago
Crude tops $81 a barrel--Dec.-Red.-Dec spread tops $8
WTI futures also rose 2.7% to the highest level since October 2014... the prices of fuels such as coal and natural gas are soaring in Europe and Asia as stockpiles run low. There has been a roaring sense of bullish attitude amongst traders where the difference between the closest two December WTI contracts topped $8 a barrel on Monday.
909 days ago
Commodities is top returning asset class for the first time since 2002
Well actually, since 2016, but not at the same level of intensity as we are seeing now. Now, returns are much closer to the bull cycle seen in early 200s when in 2000 commodities returned 58.2% and in 2002, 39.5%. 2016 was a shy 17.5%.
