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• Crude oil continues to swing on news of production cuts. What’s next?
Fundamental Overview #Read Full Article https://hub.webberspro.com/?p=1131
Crude oil has been on a seesaw this week as we got a rally on Monday on the news that Libya was going to close down all oil fields and halt production and exports.
That spike eventually got faded and prices even fell below the level seen before the news. Yesterday, we got the news that Iraq was going to cut production which triggered another rally in oil.
On the daily chart, we can see that crude oil has been mostly rangebound between the 72.50 support and the 80.00 resistance. The market participants will likely keep on “playing the range” by buying at support and selling at resistance until we get a breakout.
Recent Price Movements (as of 2024)
• Volatility: Brent Crude prices have experienced volatility due to a combination of factors including supply chain disruptions, changes in OPEC+ production strategies, and shifts in global energy demand, particularly as economies transition to cleaner energy sources.
• Price Levels: In recent times, Brent Crude has seen fluctuations, with prices sometimes moving within a range influenced by ongoing recovery efforts post-pandemic, inflation concerns, and geopolitical tensions in key oil-producing regions.
• Future Outlook: Analysts often monitor the potential for new supply disruptions, changes in OPEC policies, and shifts in energy consumption patterns as indicators of future price trends.
💬 Join the Discussion! Share your thoughts and predictions on how gold might perform. Are you seeing bullish signals, or are you anticipating a pullback?
🔔 Stay Informed: Follow us for real-time updates and insights on market trends.
Applying Bollinger Bands to Analyze NVIDIA Corporation: A Technical Analysis Approach
NVIDIA Corporation (NVDA) is a leading technology company renowned for its graphics processing units (GPUs) and artificial intelligence (AI) solutions.
Originally known for its high-performance graphics cards for gaming and professional markets, NVIDIA has diversified into areas such as AI, data center solutions, and automotive technology.
On Wednesday, Nvidia reported earnings that beat Wall Street views. Sales of $30.04 billion were higher than $28.7 billion analysts expected and came in 122% ahead of the year-earlier quarter.
Earnings also came in above views of 65 cents at 68 cents per share and were 152% higher than the prior year.
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Read Full Article https://hub.webberspro.com/?p=1122
The gold market (XAU) is set to open soon, and it’s crucial to stay ahead of the game! 📉📈
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🗓️ Market Opening Time : Sydney at 2:00 AM UAE time & 3:30 AM Sri Lanka time on Sunday.
🔍 Why You Should Watch Gold Right Now:
• MA7 Indicator: Watch for how gold’s price interacts with the 7-day moving average (MA7). A price above MA7 could signal a bullish trend, while a price below might suggest bearish sentiment.
• Key Levels: Pay attention to potential support and resistance levels around the MA7.
• Market Sentiment: Keep up with the latest economic news and geopolitical events that might influence gold prices.
When analyzing gold (XAU) in the context of a 7-day moving average (MA7), you’ll want to focus on a few key aspects:
Price Trends: Observe how the price of gold interacts with the MA7. If the price is consistently above the MA7, it might indicate a bullish trend, while consistently below the MA7 could suggest a bearish trend.
Crossovers: Look for crossovers between the price and the MA7. A bullish signal occurs when the price crosses above the MA7, while a bearish signal occurs when it crosses below.
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Support and Resistance: The MA7 can act as a dynamic support or resistance level. If the price is above the MA7, it could find support at this level during pullbacks. Conversely, if the price is below, the MA7 might act as resistance.
Volume Analysis: Combining volume with MA7 can provide additional insights. Increased volume during a price crossover or trend shift can confirm the strength of the signal.
💬 Join the Discussion! Share your thoughts and predictions on how gold might perform. Are you seeing bullish signals, or are you anticipating a pullback?
🔔 Stay Informed: Follow us for real-time updates and insights on market trends.
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Given that today is Saturday, August 31, 2024, and the UAE is in GMT+4, here are the next market opening times for gold (XAU) in UAE time:
1. Sydney: The Sydney market opens at 2:00 AM UAE time on Sunday, September 1, 2024.
2. Tokyo: The Tokyo market opens at 4:00 AM UAE time on Sunday, September 1, 2024.
3. London: The London market opens at 12:00 PM UAE time on Sunday, September 1, 2024.
4. New York: The New York market opens at 5:00 PM UAE time on Sunday, September 1, 2024.
So, the immediate next market opening will be for Sydney at 2:00 AM UAE time on Sunday.
#srilanka Sri Lanka is in the time zone GMT+5:30. To determine the next market opening time for gold (XAU) based on Sri Lanka time,
1. Sydney: Opens at 3:30 AM Sri Lanka time on Sunday, September 1, 2024.
2. Tokyo: Opens at 5:30 AM Sri Lanka time on Sunday, September 1, 2024.
3. London: Opens at 1:30 PM Sri Lanka time on Sunday, September 1, 2024.
4. New York: Opens at 6:30 PM Sri Lanka time on Sunday, September 1, 2024.
Since today is Saturday, August 31, 2024, the immediate next market opening for Sri Lanka will be the Sydney market at 3:30 AM Sri Lanka time on Sunday, September 1, 2024.
#Disclaimer: This content is for educational and informational purposes only. This should not be misconstrued as financial advice to buy or sell any security. Please conduct your own research.
Sri Lanka's inflation rate, measured by the Colombo Consumer Price Index (CCPI), has dropped significantly to 0.5% year-on-year in August 2024, down from 2.4% in July 2024.
Food inflation has settled at 0.8%, while non-food inflation stands at 0.4%.
This sharp decrease highlights the ongoing efforts to stabilise prices and could signal a positive trend for the economy.
Gold Analysis: Will Gold Break New Historical Levels? - 28 August 2024
Yesterday, the gold price fell towards the support level of $2,503 per ounce but quickly rebounded to stabilize around the resistance level of $2,525 per ounce.
Initial support is around $2,485/oz. followed by $2,450/oz. Gold Daily Price Chart Retail trader data shows 53.66% of traders are net-long with the ratio of traders long to short at 1.16 to 1.The number of traders net-long is 10.14% higher than yesterday and 13.05% higher from last week, while the number of traders net-short is 5.69% lower than yesterday and 9.76% lower from last week.
Gold Analysis: Will Gold Break New Historical Levels? - 28 August 2024
Yesterday, the gold price fell towards the support level of $2,503 per ounce but quickly rebounded to stabilize around the resistance level of $2,525 per ounce.
Initial support is around $2,485/oz. followed by $2,450/oz. Gold Daily Price Chart Retail trader data shows 53.66% of traders are net-long with the ratio of traders long to short at 1.16 to 1.The number of traders net-long is 10.14% higher than yesterday and 13.05% higher from last week,
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The Fibonacci tool is mainly used in trading in two ways:
RETRACEMENT and EXTENSION.
1️⃣ The retracements predicts where the price will pullback to (entry levels). 2️⃣ The Extension predicts the levels that the price will push to beyond the initial trend (exit levels).
Identify swings to find Fibonacci retracement levels. Identify the recent Swing Highs (SH) and Swing Lows (SL).
↗️ UPTRENDS: start from Swing LOW to Swing HIGH. ↘️ DOWNTRENDS: start from Swing HIGH to Swing LOW.
➡️ When the price returns to the 0.5%-0.62% area you can look for buys (uptrend) or sells (downtrend).
The double top pattern is a technical analysis chart pattern used in trading to signal a potential reversal in a security's price trend. It is characterized by:
Two Peaks: The pattern consists of two prominent peaks at approximately the same price level, separated by a trough or dip.
Support Level: A support level is formed at the lowest point between the two peaks, known as the "neckline."
Bearish Reversal Signal: After the formation of the second peak, if the price breaks below the support level (neckline), it often signals a bearish reversal and a potential downtrend.
Traders use this pattern to predict that an uptrend may be ending, and the price might start to decline.
Opening a long position with a negative funding rate in the context of cryptocurrency or futures trading can be an interesting strategy.
Negative Funding Rate:
This means that short positions are paying long positions. If you're in a long position, you'll receive payments from those holding short positions as long as the funding rate remains negative.
This typically happens when the perpetual futures price is trading below the spot price.
Income from Funding: Since the shorts are paying the longs, you earn an additional income for holding the position, reducing your cost to carry the long.