Crude Oil on MCX settled up 0.12% at 4109 supported by expected supply cuts from OPEC but held back by record U.S. production.
Technical Analysis
Natural Gas Price Prediction – Prices Rebound From Session Lows on Cold Weather Forecast
The EIA reported on Thursday that net injections fall lower than the five-year average. Net injections into storage totaled 58 Bcf for the week ending October 19, compared with the five-year average net injections of 77 Bcf and last year’s net injections of 63 Bcf during the same week. Working gas stocks totaled 3,095 Bcf, which is 624 Bcf lower than the five-year average and 606 Bcf lower than last year at this time.
Spot WTI Crude Technical Analysis October 24, 2018
Crude oil suffered heavy losses in the previous day and closed near the day low. The sudden bearish breakout turns the trend into bearish. Fortunately, no lower low printed on weekly basis, the price needs to move below $64.40 to print a lower low.
Spot Silver Technical Analysis October 24, 2018
The price of silver maintains its bullish winning after previous day bounce. The precious metal expected to continue moving upward to test $15.00.
Spot Gold Technical Analysis October 24, 2018
We have an early celebration on the gold jump in the previous day. Unfortunately, the precious metal drifted lower before the close of the day and settled just at $1,230. It means no breakout and today the bull has trouble to break the resistance level.
GBPUSD Rallies to Exit From Sideways Movement; Bearish Outlook in Medium-Term
GBPUSD has reversed back down after the pullback on the 1.3255 resistance level, while it dipped sharply on Monday below the 23.6% Fibonacci retracement level of the downleg from 1.4375 to 1.2660, near 1.3066. Also, cable is holding well below the 20- and 40-simple moving averages (SMAs) which are ready to create a bearish crossover. The short-term bias seems to be neutral as the price holds within the 1.3300 resistance and the 1.2920 support over the last six weeks.
Gold Breaks Out of a Narrow Range, Multiple Indicators Signal Rally Ahead
Gold Silver Reports (GSR) – Previously, we did indicate that record short positions are written in COMEX in the $1,218-$1,220 range so any price movement above that zone will trigger short covering. We already witnessed short covering when gold jumped till $1,232 before retracing back to $1,220.
Crude Oil Hits New Highs, Greenback Turns to Fed’s Dot Plot for Guidance
The most popular topic across financial market headlines is the relentless appreciation witnessed in global oil prices after OPEC and Russia squarely rejected Donald Trump’s demand to boost output over the past weekend. Brent Crude has soared to levels not seen since November 2014 when it was.
Nikkei 225 Technical Analysis: Can Impressive Gains Stick? – Gold Silver Reports
Gold Silver Reports (GSR) – The simple moving averages at 20-, 50- and 100 days remain in chronological order, but they are all now some way below the market.
Fed Chair Powell Dips USD, Boosts S&P. Nikkei 225 Eyes Trend Line – Gold Silver Reports
The US Dollar suffered its second week of losses, with declines amplified as Fed Chair Jerome Powell spoke at the Jackson Hole Central Banking Symposium on Friday. While he did reiterate much of the status quo that gradual hikes are likely appropriate, a lack to go beyond that left hawks rather disappointed. Indeed, US government bond yields declined across the board.