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WTI Oil Technical: Bullish exhaustion sighted below US$93.80 per barrel key resistance

Recent 4 weeks of bullish movement in WTI crude oil has flashed out bullish exhaustion conditions. At the risk of shaping a bearish counter-trend/mean reversion movement within a major uptrend phase. Key resistance will be at US$93.80 with intermediate support zone of US$86.30/US$84.90 West Texas Oil (a proxy of WTI crude oil futures)’s relentless medium-term uptrend move of +19% from the 24 August 2023 low of US$77.00/barrel to yesterday’s 19 September high of US$93.05/barrel has flashed out s

20-09-2023 02:04 GMT by Kelvin Wong

EUR/CAD: Loonie rallies after hot inflation report make next BOC meeting a coin flip

BOC's three-month moving average surged by a full point to 4.5% Odd's for the October 25th BOC policy meeting jumped to 50.5% vs 25.1% yesterday The December 6th implied rate for Canada is at 5.233% (nearly fully prices in a quarter point rate rise) The Canadian dollar currency is surging against the euro after a hot inflation report raised concerns that the Bank of Canada (BOC) might not be done raising rates. Inflation was clearly boosted by the surge with gasoline prices, and that will get

19-09-2023 12:25 GMT by Edward Moya