WTI crude has fallen below $69 per barrel, marking a decline of over 8%, the largest weekly drop since the last week of September. Weakness in oil intensified further today by slowing economic growth in China and a reduction in supply disruptions in the Middle East. China’s GDP grew by 4.6% in the September quarter… Read More »
Strong demand has emerged at recent lower levels, with gold near 75000 As long as these levels hold, the bias is upward, potentially setting the stage for new price highs. These levels are key indicators for ongoing market trends, and sustained support at these points could lead to continued upward momentum. MCX GOLD Gann Angle… Read More »
A role reversal has occurred, with previous key resistance now acting as strong support, prompting a price rebound. Implied Volatility (IV) remains elevated at 53-56%, and skews are heavily favoring calls over puts, indicating that the geopolitical risk premium from West Asia is still factored in. The recent price correction has been substantial, suggesting the… Read More »
Israel-Iran China US Fed The trio to rock Commodity markets till the US elections in November. MCX GOLD Gann Angle Chart Gold is trading well above its 3×4 gann angle. MCX GOLD Supply Demand Zone MCX GOLD Supply Demand Chart : Demand in range of 75359-75444, Supply in range of 76000-76100 MCX GOLD Harmonic Analysis… Read More »
Israel-Iran China US Fed The trio to rock Commodity markets till the US elections in November. MCX Crude Oil Gann Angle Chart Crude is near its gann cycle on 07 Oct and can see a trend reversal once price start trading below 6200. MCX Crude Oil Supply Demand Zone MCX CRUDE… Read More »
MCX Crude Oil Gann Angle Chart Crude has taken support to its 1×1 gann angle holding the same can head towards 6000. MCX Crude Oil Supply Demand Zone MCX CRUDE OIL Supply Demand Chart : Demand in range of 5555-5600, Supply in range of 6000-6066. MCX Crude Oil Crude Harmonic … Read More »
MCX GOLD Gann Angle Chart Gold is back above its 3×4 Gann Angle resistance. MCX GOLD Supply Demand Zone MCX GOLD Supply Demand Chart : Demand in range of 72235-72150, Supply in range of 74000-74100 MCX GOLD Harmonic Analysis Above 73500 price is heading towards 74105-74555 based on Bullish ABCD Pattern. GOLD Astro/Gann Trend Change… Read More »
The Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+) appear to have lost their pricing power, becoming price takers rather than setters. A perfect storm is brewing in the oil market , with weak demand, surging inventory, rising NGLs and biofuel output and rising non OPEC production. Add to that, today’s post… Read More »
The US non-farm payrolls (NFP) report for August came in line with expectations, but the market’s reaction was far from muted. Traders, seemingly anticipating a worse-than-expected outcome, had built up a significant bearish position. However, the relatively benign data triggered a sharp reversal, sending equities, currencies, and commodities tumbling. The US dollar strengthened markedly, buoyed… Read More »
Federal Reserve Chair Jerome Powell laid the groundwork Friday for interest rate cuts ahead, though he declined to provide exact indications on timing or extent. “The time has come for policy to adjust,” the central bank leader said in his much-awaited keynote address at the Fed’s annual retreat in Jackson Hole, Wyoming. “The direction of… Read More »