Goldman Sachs Says China Competition Weighs More on EU Growth Than Trade Deficit 
Goldman Sachs Raises USD/JPY Forecast, Sees Yen Weakness Persist Through 2027 
Smartphones are helping filmmakers tell the stories the movie industry overlooks 
Trump has made more than $1 billion from crypto in a year. How? 
Alcohol is one of the most dangerous drugs, yet its presence is ubiquitous in social settings and celebrations 
Vietnam’s population hit the 100 million milestone. Where’s it headed? 
Gold Surges Past $4150 on Dovish Fed Signals and Weak Jobs Data; Bullish Outlook Prevails 
Bank of America Upgrades T-Mobile to Buy, Says LEO Satellite Fears Are Overdone 
 - EconoTimes)
Energy segment is trading in green today. Weekly performance at a glance in chart & table.
Oil (WTI) -
- Weaker dollar and Middle East tensions provided necessary cues to WTI bulls as they have cleared $60 area. Next target is coming around $64-65 area.
- EIA stocks on Wednesday and NFP report on Friday remain the focus. Weaker dollar might even lead crude towards $70 level.
- WTI is currently trading at $60.9/barrel. Immediate support lies at $55-54.6, $51.2-50 and resistance at $58.9-59.7, $64-$65
Oil (Brent) -
- Brent has been rising amid weaker dollar and Middle East tensions.
- Brent-WTI spread down slightly by 20 cents, currently trading at $7.2/barrel. Brent might be targeting $69.6-$70 level as initial target.
- Brent is trading at $68/barrel. Immediate support lies at $63.7-63.2, 61.8-61.4 area and resistance at $ 70 region. Traders should exercise caution as price target comes close and NFP report later in the week.
Natural Gas -
- Bulls have gained further grounds after last week's massive rise of close to 10%. Thursday's inventory report holds key.
- Bulls need to break above $2.85-$2.9 area to diminish downside bias significantly.
- Natural Gas is currently trading at 2.80/mmbtu. Immediate support lies at $2.44 area & resistance at $2.86.
|
WTI |
+2.86% |
|
Brent |
+3.96% |
|
Natural Gas |
+1.37% |
