Oil, Metals, Soft Commodities

Oil, Metals, Soft Commodities

Gold Testing Major Support Level

For the last 2 years, Gold has been bouncing in a range between $1700 and $2070 and is currently testing the major support level around $1700 as seen below. The price has used the yellow highlighted as an area for support zone and a rejection zone. Over the last 2 years clear rejections have occurred every time the price has reached around $...

September 16, 2022
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Natural Gas – Technical Analysis

The United States used 30.28 trillion cubic feet of natural gas in 2021, making them the world’s largest consumer of natural gas. Natural gas consumption in the United States has two seasonal peaks, largely reflecting weather-related fluctuations in energy demand. One of the biggest consumptions of gas is industrial, residential and commercial co...

September 8, 2022
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Oil Price tumbles to 7 month lows as recession fears grow

Brent Crude and West Texas Intermediate Oil both fell to their lowest levels since January as fresh recession fears swept the market. Brent dropped to $87 a barrel and WTI to $81. The prices dropped following OPEC’s decision to cut the production by 100,000 barrels a day of supply from  October.   In recent months with the Russian and...

September 8, 2022
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Brent testing critical level again

  Brent Crude oil much like many other commodities has seen its value drop on the back of a strong US dollar and weaker demand forecasts. With the tail wind of the Russia and Ukraine crisis fading, Brent has struggled to maintain its highs of $125 a barrel in the last few months. In addition, the price has dropped to the point where it is r...

September 2, 2022
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Is the price of wheat ready to bounce?

  The price of wheat is finally starting to show positive signs after an aggressive sell off that has been ongoing since May 2022. There is hope that the price of the commodity may begin to climb again with the price finally finding some support.  The price has been impacted by growing fears that production may slip may increasing volatili...

August 30, 2022
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Oil continues its sell-off as it drops after weaker Chinese and US economic figures

Oil has continued its tumble from its March 2022 high of $131 per barrel down to $82 a barrel. The drop has been in response to weak economic figures from China and the USA which has added to the recessionary anxiety gripping the market. Furthermore, as Iran edges closer to a nuclear deal, the removal of economic sanctions on the country may be ...

August 16, 2022
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Oil Companies Record Profits in question

In a time when you consumers could potentially be feeling domestic budgets tighten up, by the result of surging high inflation and rise in prices of commodities, you would be forgiven to be receiving the news that some of the biggest oil companies in the world, have acquired record profits with some skepticism, you would even question if these ...

August 9, 2022
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US dollar drops as the economy shrinks by 0.9% for the last quarter.

US economic data revealed last night shows that the country’s GDP has shrunk by 0.9%, although some are remaining positive that a recession may still be avoided. Despite the worrying figures, Federal Reserve Chair, Jerome Powell, outlined his belief that due to low unemployment figures of 3.6% and a strong market for jobs with 11 million job open...

July 29, 2022
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Wheat Trading Opportunities

Wheat Trading Opportunities   Wheat is a well-known soft commodity that is vital for any kind of bread product. It also has important uses for the feedstock for cattle which is vital in economies with large agricultural sectors. The supply and demand for wheat can be volatile with changes occurring for a multitude of different reasons. The...

July 26, 2022
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Oil dips to the bottom of its range as recession fears hit the market.

Oil has seen its first real slip up in price since March. The commodity had been running on the back of high inflation and supply issues stemming from the Russian and Ukraine crisis. During the run Oil peaked at $137 a barrel before entering a period of consolidation. The recent catalyst for the drop was OPEC announcing that 2023 would likely re...

July 13, 2022
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OPEC announces increase in oil production

The OPEC group has announced plans to increase production of Crude oil to reduce the panic and ease the supply crunch. However, some analysts believe that the amount will be insufficient reduce the price. The organisation agreed to increase production to 648,000 barrels from 400,000 per day beginning in August. Brent crude and WTI dropped in price ...

July 1, 2022
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Australian Gold companies slump to yearly lows

Some of Australia’s largest gold miners have slumped to their 52-week price lows as rising costs and labour shortages have pushed their share prices down. St Barbara, (SBM), Ramelius Resources, (RMS) and now Evolution Mining, (EVN) have all reported disappointing updates to the market. The collective weakness has reverberated across the sector wi...

June 29, 2022
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Lithium darlings fall to 6 months lows.

Two junior lithium companies, Core Lithium, (CXO)  and Lake Resources, (LKE) have seen aggressive sell offs after motoric rises in the last few years. The Backstory Lithium stocks companies had seen a momentous rise in the past 3 years largely on the back of the push towards renewable energy and electric vehicles which require lithium for th...

June 24, 2022
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AGL and The Mike Cannon-Brookes Take Over. Part 2.

Continuing from my previous article on Mike Cannon-Brookes and the take over of AGL, there has been some very important breaking news from the Australian giant and the country’s biggest polluter, AGL Energy. To give you some background information; Mike Cannon-Brookes (MCB) had launched a takeover of the company as he felt he could change the...

May 31, 2022
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Western Countries consider new sanctions against Russia, limiting their access to gold.

The USA and other Western nations have intimated that they are planning to block Russia's access to its international stockpile of gold. Russia has so far been able to use gold to support the Rubel as a tool to reduce the impact of sanctions. Russia has been able to trade gold assets for more liquid foreign exchange that have not been subject to cu...

March 25, 2022
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