Technical Analysis: Oil falls below major resistance, how deep could it go?
So far in August, WTI has shed over 7% after hitting a strong resistance level around $77. How further downside should traders expect? It’s a popular fact that the world runs on energy thus the black commodity (oil) reflects the global economic growth. Since Covid, we have seen a new face of the oil market. […]
Daily market update – what next for the dollar?
The dollar weakens further on Tuesday as traders await the next action from the Fed amid swift economic recoveries despite rising global Covid-19 cases. The US-Sino affairs run mildly underneath while political tensions surge in the US ahead of the November general elections in the world’s biggest economy. EURUSD hits a fresh weekly high and […]