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Oil prices have decreased lately as a result of various crucial factors Technical Outlook confirms bearish structure Global economic concerns The global economy is encountering substantial difficulties, especially in prominent economies such as China and Europe. China’s economic expansion has experienced a deceleration below initial projections, resulting in a decrease in industrial operations and a […]

The post Why Do Oil Prices Post Notable Losses? appeared first on Action Forex.

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12/04/2024

ETHUSD Finds Support at 50-day SMA

ETHUSD slides after recording 1-month peak But the 50-day SMA curbs its retreat Momentum indicators ease in positive zones ETHUSD (Ethereum) experienced a strong pullback from its 2024 peak of 4,090, dropping to as low as 3,060. This week, the price recorded a fresh one-month high of 3,410 before reversing lower to find solid support at the […]
05/09/2024

WTI Crude Oil Wave Analysis

WTI crude oil broke key support level 71.40 Likely to fall to support level 68.00 WTI crude oil recently broke sharply below the key support level 71.40 (which has been repeatedly reversing the price from the start of February). The breakout of the support level 71.40 accelerated the active impulse wave c of the medium-term […]
27/06/2024

Aussie Calm as Inflation Expectations Jump

The Australian dollar has posted small gains on Thursday. AUD/USD is trading at 0.6654 in the European session, up 0.10% on the day. Australian inflation expectations rises to 4.4% This week’s inflation indicators have risen more than expected, an indication that inflation remains sticky and that the road to the Reserve Bank of Australia’s inflation […]