Elliott Wave Analysis on Oil (CL) Looks for Short Term Weakness

AUDUSD remains in red for the eighth consecutive day and fell to the lowest in six weeks in early Wednesday. Aussie dollar remains under increased pressure from stronger US dollar, falling prices of commodities and concerns about China’s economic growth. Bears cracked pivotal support at 0.6580 (200DMA / 50% retracement of 0.6362/0.6798) after Tuesday’s close […]

WTI crude oil finds resistance at 200-day SMA Stochastics and RSI head south WTI crude oil futures with delivery in July have failed to surpass the 80.00 level once again and are currently returning below the 200-day simple moving average (SMA). The price has been developing within a narrow range of 76.58-80.00 since the beginning […]

GBPJPY remains in an unobstructed uptrend and hit new multi-year high (the highest since 2008) in early Monday. The cross extends steep ascend into eleventh straight day, after registering the sixth consecutive monthly gain in June. Yen weakened further against all major currencies on dovish BoJ and despite looming intervention after Japanese authorities signaled readiness […]