Logo-color Logo-white

WTI oil futures test critical 2023 support zone Technical signals point to oversold levels Sellers await a weekly close below 70 WTI oil futures were sold dramatically on Wednesday, extending their weekly losses to a more than a four-month low of 69.10. The bears are leading for the seventh consecutive week, increasing speculation that a bullish […]

The post WTI Oil Futures: Is the Sell-off Overdone? appeared first on Action Forex.

previous

USDJPY’s 2023 Performance is Positive

next

EURGBP Moves Sideways After Significant Plunge

Read More

16/04/2024

S&P 500 Wave Analysis

S&P 500 falling inside sharp c-wave Likely to fall to support level 5000.00 S&P 500 index continues to fall inside the sharp c-wave of the minor ABC correction ii from the end of last month. The price earlier broke the support levels 5100.00 and 5140.00, which strengthened the bearish pressure on these index . Given […]
19/07/2024

USD/JPY Outlook: Bear-Trap Underpins But Recovery Still Faces Headwinds

USDJPY remains constructive on Friday and attempts to further extend Thursday’s strong bounce, with recovery being supported by signals of a double bear-trap, following a false break below pivotal Fibo support at 156.04 and thin daily cloud (spanned between 155.83 and 155.50). Rising and thickening daily cloud also underpins near-term action, however, headwinds are still […]
08/12/2023

Will NFP Be Positive for the US Dollar?

As the US Non-Farm Payrolls (NFP) take center stage, this month’s data gains special attention, particularly after the unemployment rate took a concerning turn in the previous month. The US ADP Employment Change reveals a significant decline, with the economy adding 298K new jobs in the last three months, marking a 68% drop from the […]